The board was meeting as this stock was collapsing to $13 and change. You would think they would do immediate announcement but they do not favor shareholders just themselves. It may be the "Chinese Way."
Basically, they need to determine f there is a better opportunity out there where for enterprise value of just $320M, they earn pretax $140M per year. That is what they are buying.
A 40% annual return.
And what do they earn for the cash they hold ? 1/4 % per year, right ?
OmniVision: Dual sourcing likely; still one of the bigger apples of iPhone's eye - Oppenheimer (16.15 ) Oppenheimer notes first off, no changes to price tgt and ests. What their checks suggest and what one can deduce from logic are one and the same: Apple is dual sourcing the image sensor for iPhone. Both OVTI (TSM) and Sony (SNE) are ramping their CMOS image sensor (CIS) businesses and both seem to be in next gen iPhone. They think that this will deliver powerful upside to OVTI given that the market or at least OVTI bears think that it is not in the next generation iPhone; but, sorry bears, OVTI is still in.
aapl use sne to phase ovt out. sne much better since use bulk si& tsv's for packaging/adhering active to carrier wafer. sne buy ziptronix license. ovt being sued by zip for bsi ip theft. do u read 10k/q like me?