In Part 1 of our podcast of analysis of Power Integrations' stock, we laid out how we saw it fitting in to stock market trends we've seen in 2016, which have been changing from the pattern followed since the credit crisis of 2008-2009. This company has suffered from stagnant sales and compressed margins. However, our methodology is to consider long-term trends and corporate milestones, and we think Power Integrations is beginning another such cycle, even if such episodes have in the past not been extremely robust ever since the company made a splash after its IPO in the late 1990s.
We believe InnoSwitch is the company's first major technological advance since 2008-2009, when it introduced LinkSwitch2. In Part 2 of this podcast, we describe the strategic aspects of how the other major rapid charging competitor has entered the rapid charging market, and why Power Integrations may have taken the high ground in this intriguing opportunity to make external chargers possibly demanded by the roughly 1.2 billion smart phones being sold annually around the world. We compare its plight Synaptics, and encourage listeners to also review our stock research podcast of that company. Synaptics has been a supplier of biometrics and touchscreen integrated circuits to Samsung.
The last major milestone for Power Integrations was its release of LinkSwitch2 in late 2008 to early 2009. LinkSwitch, by our estimate, is the company's leading product family. However, management stopped reporting sales by product about five years ago. In this stock research podcast, GARP discusses a wide range of subjects pertaining to this niche semiconductor enterprise. We aim to demystify the engineering breakthroughs it has achieved, including its latest, InnoSwitch, which is beginning to gain acceptance for what we believe will be the leading rapid charging standard, QC 3.0.
How much organic growth is really occurring at RealPage? Is the apartment rental market going to become swamped by capacity? How profitable is RealPage really, considering that it discusses its results with institutional holders in non-GAAP terms? What does it look like using more conventional yardsticks? Is there a large market waiting for it and Yardi to penetrate? In this podcast of this lesser known stock market listing, GARP Research attempts to unpack these questions through walking listeners through our granular models of the company’s operating results.