Why do you ask about $52.50? I don't know if it will get there. The 50 DMA is $54 and the 200 DMA is $44. So, it's possible. Is $52.50 just your personal target to buy? I added today at $53.98...basically at the 50 DMA. I have an average cost of $42.91, and own just over 16,000 shares.
One reason...Alibaba. Big funds are selling many tech winners to raise cash for the Alibab IPO. Don't run. In fact, buying the pullback could be a lucrative move. At any rate, patience until Alibaba is public is paramount.
Big funds selling some winners to raise cash for the Alibaba IPO. SWKS is part of this, no doubt. I am buying close to the 50 DMA of $54ish. The question no one can answer for sure is how low will it go. My bet is there is strong enough support at the 50 DMA, given SWKS' growth prospects, to keep it there. Once Alibaba is public, look for a bounce back in SWKS. All IMO.
Every time I see a post talking about recent down days in SWKS, I feel the need to remind everyone of SWKS' 30 day, 3 month, and YTD performance...5%, 16%, and 92%, respectively. Also, the 50 DMA is $53 and change. Whether or not you have been invested long enough to benefit from these upward moves, one must expect a period of consolidation which includes pullbacks. Quite frankly, after the big up move resulting from the last earnings announcement, I am hoping for consolidation between $54 and $56 until next earnings in late October. A great report then after several weeks of sideways trading would push this much higher, IMO...low $60's maybe. I still think $65 at end of year is a real possibility.
Up 9% the last 30 days and 17% the last 3 months. Pummeled? Again? Should I even mention it's up 97% YTD?
I'm sure the Yankees are proud to have you as a fan. No doubt you have done nothing but heckle Jeter since he arrived. I'm sure he made too many errors for your taste.
Apple Watch not available until early 2015 is one possible factor driving the pullback. The other is the fact that the Apple Watch must be accompanied by an iPhone to work. Obviously, that drastically reduces the addressable market for the Watch, and the INVN opportunity, therefore.
All that is very short term thinking however. All looks good to me over the next 3-5 years.
Some have to see it to believe. Your comment is the current day version of someone wondering why they need a cell phone when they can easily stop at a pay phone, if necessary.
Situational, geographical, contextual, and motion awareness will be created by both conspicuous and inconspicuous wearables over the next few years. iWear and the like will NOT flop. To the contrary, it is THE future of personal device technology.
Nice going!!! Hopefully, you still have those shares. :)
To clarify, my purchase today was adding shares to my position, not taking an initial position. I own a significant number of shares and continue to pick the dips to add more. I see a bright future for SWKS as far as the eye can see from here.
Open your minds to bracelets, necklaces , earrings, clothing, and not just watches. Wearables will change everything when it comes to how we are,connected and how we access information and what information we can access. This segment will be huge for INVN. Hold tight.
$56.09 for long term hold. I think $65 is a real possibility by year-end.
For those who don't care about my opinion or at what price I buy, save your comments and simply put me on ignore.
Don't forget the Tag Heuer and Yves Saint Luarent execs now on the payroll. You don't hire folks like this if you don't aspire to making a huge splash in wearables. IMO, that huge splash will extend beyond just an iWatch. Hold your INVN shares. Wearables are fast approaching.
It would have been typical for a new CEO to be given options to buy at a discount to the current pps...like, a 20% - 30% discount. I view $4 as a positive.