Fallen angels, broken models? IRI A2m APX

Good note by SM. the only things i would add is that IMO old technology is at higher risk of being disrupted than the banks/telcos larger co's etc. is that IRI ? not sure. important result coming in August. i can see some concerns on glassdoor about the issues IRI is having with moving into saas. finally the accounting will overly punish reported profits in a down turn, cashflow will be key and any traction with new products should see a big bounce in accounting profits. mgt will be confident regardless as expected. disclosure i have a small holding and perserving at this stage