mk..... clearly, it's all whitewash...... I've got nothing to base this on and I'm probably wrong, but it's looking to me like the official Apple launch to CHL won't be until New Year's Eve or New Year's Day. In the interim, Apple hopefully has been smart enough to discount and increase i5s shipments to China Telecom and other CHL competitors. GLTA
JMO, but the Apple/CHL announcement has gone long past the "cute" smart-marketing phase and is just becoming irritating as far as I'm concerned. Get on with it if it's going to happen. GLTA
larry, I was wondering the same thing...... CNBC said this a.m. that all the Silicon Valley talking heads were going to be in Washington DC today to discuss the NSA issues.
mk.... thanks for the clarification...... I thought there might also be other downsizing underway.
mk...... if you know, I've got a general question on LED bulbs....... Is there a general expectation that the presumably smaller 55 nm chips will grow the CRUS light bulb trade? It just seems logical that all those small candle-style bulbs in many dining rooms would benefit from a tiny dimmer chip.
motor.... it's just a guess, but I'd say CRUS will drift higher over the next quarter...... maybe closer to $24 by the March quarter earnings call (which frankly, should be stellar).... JMO
mk...... I think you've hit on my last nerve ending here..... re: 600,000 shares repurchased at $21.06 last quarter..... I think the perception here is that, by their actions, management gives the appearance they will be able to buy shares back cheaper in the future. Right or wrong, that's the perception....... during the past quarter, management exercised a boatload of options and many upper folks turned around and sold all or the bulk of the exercised shares..... if they thought the share price would be going higher, wouldn't they have held onto more of those shares? And yes, the company did buy 600k shares last quarter but that was only $12+MM. They have authorized $100MM to spend on repurchases..... I'm not saying they should have spent all $100MM, but why not spend $25MM when the shares were selling under $20? Again, it's JMO but management is sending the signals that they will be able to buy shares back below the current price....... if they think the price is cheap under $20, why hasn't the company been buying more shares??? GLTA.
That's believable (and somewhat hollow)...... I'd believe it more if the company would back that statement up materially with a formal statement and/or an increase in the share repurchase funds. I'ts JMO, but share price isn't a priority from this management...... they still believe that share price will take care of itself if the company performs well...... sadly, with a 20%+ short position, that doesn't appear to be the case.
Yes, this is classic...... the first trades this a.m. started at 4:02 a.m. EST.
This is the quote re: Oppenheimer as reported by Bloomberg this a.m.:
"Cirrus Logic, which supplies audio chips to Apple Inc., declined 3 percent to $19 in New York after Oppenheimer cut its rating on the stock to underperform from market perform, citing a lack of new features and functions in the products it supplies to Apple, its biggest customer."
Pretty thin..... the same could have been said about Boeing, IBM, Dell or nearly any other company. JMO, but I view this as part of the "short" position's activity. That said, the company should continue to do what they can...... I'd like to see them buy back Royce's entire 10% share position.
motor...... I think you hit it on the head.......the appearance is that management doesn't really care about the stock price....... shares they receive cost them nothing and are thought of as salary. JMO, but share-based compensation awards need to be weighted to multi-year stock performance.
hottie....... hope you're correct on that..... TSYS has been stumbling along for the last couple years on contract scraps.... just enough to keep them from failing. But it's taken management that same amount of time to take any action to address overhead. The $10MM cut announced during the last conf call was a late, but a step in the right direction..... without some new, large orders, I'd be surprised if $10MM will be enough "right sizing". I'm still in the camp for an outright sale. GLTA
call_lebron......... it's JMO, but the CEO has been good on the technical product developments within the company.... trouble is, management hasn't adapted to the "new Federal" environment...... challenged purchases, adding new suppliers over proven entities, wringing costs from govt contracts, swaying and distribution of contracts to "favored" individuals, etc....... it's a somewhat dirty new world for those used to be playing in a tough game and trying to play "fairly". It may not be right, but it's adapt or perish under Chicago rules.
rerick..... Texas.... that's as good a reason as any. I'm still wondering how anyone can justify a nearterm short of over 20% of the outstanding shares.
Thanks for the update, mk......... The China Mobile deal is certainly welcome news.
Has anyone seen that any analyst has raised this quarter's CRUS sales estimate?????? Seems like all the recent news regarding the ipad mini retina release, 500k/day in i5s assemblies, Moto X, other Chinese smartphones, etc. should all show up as higher sales beginning this quarter. It's got to be getting quite difficult to justify hating this stock as much as so many folks apparently still do.......14MM shares short is certainly ballsey under the circumstances. GLTA