Mon, sure looks like these boys are starting to line up for the door! (that'd be the exit door). We might of had a water shed moment today if it hadn't been such a strong market day. Had a bid in for $5 but not today!
The problem is the analysts don't know what data to analyze and the two handset market leaders have either been quiet or now, Samsung giving slightly reduced S4 guidance but overall steady revenues, just a slight shift to the mid and low tier. That is not exciting news.
Apple has been ultra-quiet for weeks, so Monday could get the analysts retooling their way of looking at the 2H13 shipments and how the tiers will come in. The top tier used to have a 400 million unit estimate for 2013.
I can't believe Sam cutting quarterly S4 shipments by 5m units is having this much impact on headlines.
Monrio........truly, I look to other companies to see how important that news was (SWKS, TQNT, BRCM, QCOM) and SWKS opened down hard and rallied back. TQNT was due for some "profit taking" and wasn't down nearly as much.
My feeling is this news allowed the PUKES to take this stock to where they wanted to take it last week. The Davidson upgrade and AVAGO news had this stock rallying to over $5.60 in a NY MINUTE from $5.12 (I was going to buy last week). The VOLUME was HUGE the day of the upgrade (more then today). So just like that day was not a turning point to the upside the jury is out if today was the start of a sell-off for this stock.....we were all looking for around this level as lets face it this stock always "tries our patience". Today was even better then most........CROOKS look for opportunities and today our first hint should have been the GAP UP and IMMEDIATE sell off........was at $5.31 for like 5 mintutes on 80,000 shares and they took us right to $5.20 minutes later.......come on.......did the same thing last week........CROOKS.......they were bringing us down today HARD and they accomplished it.
Nothing chnaged since this Tuesday morning when they presented.......my bet is that RFMD knew the Samsung news when they presented on Tuesday........they came across VERY CONFIDENT and I believe they will hit the $350 million quarter in a year or so......they might break 300 million this quarter and do 8-9 cents and guide to 10-11 cents on over $300 million 2nd qtr is my best guess.
Look at what they did to us with the QCOM news.......again, if you remember that day RFMD reacted worse then our competitors so why should today be different. This stock is ALWAYS MANIPULATED more and I believe the SWKS reaction was about right (down slightly) for the ne s announced......My gut feeling is that RFMD only has 20 million in their projections and maybe had 25 million next quarter so we are "maybe" 5 million short at most......doesn't justify the sell-off