Cardboard Zombie

Activision: Growth Already Built into Stock

Okay, I'm going to have to disagree with you there.
ATVI cannot be valued the same way after the merger with Blizzard.
Half the model will be a highly profitable subscription based model. Margins will actually increase as Blizzard will get a more profitable distribution deal for WOW (NCTY has it now). In addition, Starcraft II is on the horizon and it will have an even bigger following than World of Warcraft (10 million members paying $10 per month and counting)! So ATVI is merging with a company that is about to double it's huge profit margin sub base in the next two or three years. So you cannot value them the way you have been in the past. New video game giant with higher margins and higher growth. Can't use the same valuation.
Please go back and fix your EPS and valuation method.
Come back when you have a $37.50 price target.
Thank you.