Cell phones sales slowed this year even before Chinese market crash. They figured companies will be warning shortfalls. They short the whole food chain down and down till bad earnings news come out. Stock tanks another 30% from here and they cover.
I think the sell off is not over. Hedge funds are managing price lower and lower everyday.
Every cell related semi is down 10% or more today. Down 35 % in a month. This is hedge fund shorting . Not little guys.
China suspends American hedge fund Citadel trading in China. Suspected algo trading causing the crash.
Uh.......No. I 've played the market long enough to know nothing is for certain. UMC expects wafer demand to drop 5% in 3rd quarter. The industry may indeed be in a slow down. SIMO conference call made no estimate cuts but........... I hope an industry slow down is already priced in.
Tossing a coin here.
Alright. Found it.
So its all China cell phone related sell off. This maybe a buy here. But INtel and Mu look very good too. Intel pays good dividend.
I know they have contract with MU. But is this for the old or new Xpoint ?
Other than this news . Cell phone food chain are all crashing.
INTC and MU 30% off high but showing strength . Safer bet there. SIMO not beating estimate also contribute to sell off.
The mobile revenue growth is very good. Beyond all expectations. How to monetize their membership is the key and they've done it. Slow growth in membership is expected and priced in over the last four quarterly report. The afterhour sell off means nothing. Small time traders. Big money will show tomorrow regular trading opens.
they will manage price down just because they belive they are right and have to proof to their investors.
Qihu has legitimate business. Second largest search engine after Bidu. A corporation this size have large accounting depts. No way they can fudge numbers like a small reverse merger company with one man accounting dept.
Stock ran from 45 to 63 in 3 month. Some profit taking. 50% retraceement is normal. Business fundamental does have one weak spot. Only 8% revenue in mobile. Everyone wants mobile. We will see how they transform themselves . Sit tight. give it some time.
Street like SWKS period. They've been a fast grower grabbing contracts last few years. OTOH QRVO is made of perennial losers like RFMD that was forever depressed for decades.
I'm long here because China 4G build out and movements in making all devices,appliances online. RF should grow. Rising tide buoys all boats.
There is consistent , relentless selling in QRVO ever since the merger. Either some insider want out of the combined company or a large fund doesn't like their prospect.
I think with so much RF demand coming from all kinds of devices going online. Wearable dgadgets. Demand growth will last many years.