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May 25, 2004 Stock Pick: 8x8, Inc. (EGHT)

Stock Price: $2.62

eFuture Information Technology, Inc. is a provider of integrated software and professional services for manufacturers, distributors, wholesalers, logistics companies and retailers in China's supply chain front market.

8x8, Inc. designs and sells hardware such as video and VoIP phones. Within the 8x8 corporate structure is Packet 8, their pure play VoIP service.

When VoIP is mentioned usually soon after so is 8x8, Inc. There is no doubt that VoIP will change the phone system as we know it. Basically VoIP is phone calls routed through your DSL or cable Internet and carried to a baby bell who then terminates the call locally. Packet 8 provides the software and hardware to connect their customers at a much cheaper rate than regular landlines now.

The Voice over Internet Protocol (VoIP) industry is once again coming into the limelight. This is due to a recent Barron’s cover story titled “Wake-Up Call”. There could be another mini VoIP bubble especially if this exciting emerging technology is discussed more on CNBC.

8x8, Inc. does not have as many subscribers as privately held Vonage; however, they are still one of the premier providers of VoIP. Until, the cable and DSL companies become involved in VoIP EGHT has a good opportunity to grab as much market share as possible.

James Cramer of the and Kudlow and Cramer fame recommended EGHT in the past when it ran to over $8. Also, Tobin Smith of has recommended EGHT in the past.

We believe EGHT will continue to run up in the short term with the VoIP wave.

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