CRUS management and smart money knew about current events and both took action accodingly. Short interest jumped 10% by May 15 before recent CRUS CC. When CRUS management saw these actions and felt that news has been leaked then it came up with CC on May 21/22 and CRUS price tanked by 20% on May 22. That was the worst scenario that CRUS could reveal to adjust its financial. No company wants to make a trend out of negativity if it is in good position financially. CRUS is not a company with large debt that can go BK to let out negative news step by step to give its big shareholders time to exit. On the other hand, CRUS has zero debt, great cash position, and it is buying back its shares. CRUS revenue is not going down. It needed to adjust its margin and income once to pave the way for future growth. Of course there have been over-reaction to negative news. I don't see any insider selling CRUS shares below $20 in past 2 years. These are all indication that $18 is the bottom and analysts have put the worst scenario for 2014/2015 income. Well, CRUS is trading at PE of 8 for current year and PE of 10 for next year compare to industory PE average of 20. Now, it comes Apple WWDC conf and revealing new products that for sure impact CRUS positively. AAPL is also wants to change negativity around its stock and this the best time and chance to do it.
Bottom line, no matter how some analysts and investors want to spin WWDC event, but there must be great news for AAPL and related stocks to set up this event. This may be a start of new trend for them since most of them have not apaticipated in the recent indexes growth .
AAPL will annpuce new products next week. iRadio is one that helps iPhone sale. I don't know why shorts did not covere today.
I think it will be a long long wait, may be your are retired, deaf and blind living in a nursing house by that time if you are lucky and if you are not dead yet.
This is a classical action of shorts.
traders who bought under $18 exit first and that's make it slow recovery. As soon as they exit then buyers has to bid it higher and shorts will get nervous and cover.
I laugh when somebody says the stock goes to $5.
Look at TQNT with negative income for 2013 and it is trading at $7.
It is true that AAPL is a major customer. However, AAPL must be worry if Samsung or other companies try to acquire CRUS. I think AAPL will match the offer even if it is $50 per share. It is just $3 B price around $50 and it is very cheap.
It does not matter if he owns the account or not (he has access to it anyway) since that fact is somebody did his DD and shorted over 100k of BSX in late May when the stock hit its top. After all, do you know anyone that let his large account to be played and copied by another person? That means he owns the account. You keep asking for screen shot. Do you klnow that Yahoo message board is only accept simple text file and it is not equiped for posting pictures?
Please, give the guy some credit. He was right on money when BSX hit its top.
Apple raised its slice of the market to 39.2% from 37.8%, while Research In Motion Ltd.'s (BBRY, BB.T) BlackBerry platform's share edged down to 5.1% from 5.9%.
This is good news for CRUS too.
This news was missed
AAPL needs to build new products to compensate for old products. That means AAPL needs to put new orders and supplier like CRUS sells more because of this action.
In addition, new products have higher margin.
He responded you accurately.
I calculated the numbers and they are accurate to fraction of a penny.
Don't expect him to reveal other info.
Now, it is your turn to show your hand if you dare.