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I have been listening to the presentation for roughly 90 minutes now and one thing that jumped out were the projections for fiscal 2008 and fiscal 2009 (fiscal year ends around March 31st).

FLEX Forecasts:
year ending Estimated Revenues Estimated EPS

March 31 2008 $26.8 to $27.5 billion .93 to .94

March 31 2009 $34.5 to $36.5 billion $1.20 to $1.30

In my opinion the estimate for fiscal 2009 earnings of $1.25 is what got the stock moving today. That is basically 18 months away and a P/E of 12 would indicate a stock price of $15.00 per share. I hope that the slides from the audio presentation will be available on the website soon.

It looks to me that the outlook is probably more favorable than had been previously expected. One other bit of news is that it looks like FLEX wants to make a move into the notebook computer market, which is currently dominated by a bunch of firms from Taiwan. This is the one thing that made me wonder if it could be a possible stumbling block.

Other than that concern, I felt the presentation was quite persuasive as far as making the case for a higher stock price for Flextronics...

JT :-)
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