First Things First:

In the week ending April 6, 2007 the RF to Light 100 rose 2.1%, YTD + 5% at 2581. The NASDAQ was up 2.0%, YTD + 2.3% at 2471 and LSI closed a $4 billion acquisition of Agere (and Agere’s stock symbol disappeared).

Powerwave is a leading power amp supplier for base stations. Its business is cyclical. It appears that the stock hit bottom at $4.75 in March 2007 and jumped up to $6.38 last week. Probably due to good Q1 2007 results.

They also introduced 1900 MHz tower mounted amplifiers, a relatively new technology. Powerwave should do well as their business picks up again, and I expect to see their stock above $10 again.

In the News:

U.S. employers increased their payroll by 180,000 last month, unemployment fell 0.1% to 4.4%. The 3 major stock indexes moved close to their previous peaks. U.S. manufacturing and services eased last month while inflation increased from 2.08 to 2.42%. The growth rate of the WLI index dropped slightly to 3.9% last week. The same is true for the global economy, i.e. slowdown with higher prices but recession remains unlikely.

PIS (personal investment system):

Within 5 year low : exited: Intel
Within 2 year low : joined: Intel
Within 5 year high: joined: Cisco, Aeroflex
Within 2 year high: joined: T-Mobile, Ericsson, Time Warner, EMS Techn.

New Highs:

AEIS, AMKR, LLL, NOC, NOK, SPEC, T

New Lows:

ROG

Market Oversold Indicator:

down to 78%

Market Overbought Indicator:

up to 64%

Top Five:

Last Week:

Spectrum (+17%), Amkor (13%),Powerwave (12%), Harmonic (9%), Microsemi (7%)

Year to Date:

MEMC (+57%), Avici (55%), Amkor (51%),Spectrum Control (49%), Harmonic (48%)

Bottom Five:

Last Week:

Mindspeed (-8%), LSI Logic (-5%), AMCC (-4%), Bookham (-4%), Zhone (-3%)

Year to Date:

Bookham (-46%), Rogers (-25%), Conexant (-19%), Skyworks (-18%), Motorola (-14%)

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For the week of April 9th

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The RF to Light 100 is an abstract of the RF to Light 100 Pulse of the Industry Report, produced by industry veteran Gunter Vorlop.

The full report includes extensive economic data covering 100 public companies operating in markets that include space & defense, communications services, network systems, RF semiconductors, RF components and F/O components. It includes 12 spreadsheets with charts that are updated weekly, providing financial insight into the microwave industry for investors and corporate managers.

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DISCLAIMER:

Views and data expressed herein are solely those of Mr. Vorlop and not of his employer, Presidio Components Inc. nor those of Microwave Journal.

By Sectors:

Space & Defense:

+1%,YTD +6%

Communic. Services:

+2%, YTD +2%

Network Systems :

+2%, YTD +2%

RF Semiconductors:

+2%, YTD +13%

RF Components:

+2%, YTD +5%

F/O Components:

+2%, YTD +3%

Miscell.:

+2%, YTD +2%