It was a very disappointing CC.  Not much in the way of specifics, all very fuzzy if you ask me.  It certainly seems that both Enterprise and Telecom CapEx are the issue and they have no clue if that will uptick this year. The slowdown around the world, including the soft patch stateside is playing into this. It is affecting across many Industries, as this earnings season attests.

I do believe when they state that InPhi is not a real threat, it will limit their growth only in the very short distances and only in the Data Center Interconnect segment. I too have no doubts when they say the bandwidth trends are not changing.  This is truly a secular trend, one that will last for at least another decade.

All that said, the company is still growing, and after this soft patch, it will renew its growth, still in the high teens, IMO.

The beating INFN has taken is excessive, I did think that at $23+ it was way ahead of itself, nut at $16-$18, I believe it would have been fairly priced.  Mr Market certainly overshoots in both directions. Today's additional declines are simply brutal and overdone, IMO.