Seeking Alpha

Cray (CRAY +4%) rallies towards $20 after SA Pro contributor Vince Martin argues a high...

Cray (CRAY +4%) rallies towards $20 after SA Pro contributor Vince Martin argues a high near-term multiples (Cray trades at 33x 2013E EPS) obscure a strong balance sheet ($6.72/share in cash at the end of Q1), and the potential for EPS to grow strongly in the coming years. Martin expects slowing opex growth to translate into operating leverage, and new storage and (via Cray's YarcData unit) big data/analytics applications to allow Cray to break its historical dependence on U.S. government supercomputer orders.
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