November 28, 2011
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of OmniVision (Nasdaq: OVTI ) surged more than 12% in early trading in anticipation of what most hope is a good earnings report tomorrow night.
So what: The maker of camera image sensors for the iPhone recently admitted that it wasn't the sole supplier to Apple (Nasdaq: AAPL ) , a surprise that left many investors cold. Even after today's action, the stock is down more than 60% year to date.
Now what: OmniVision has fallen so far, so fast that an anticipation rally is probably justified. The stock trades for less than half the long-term earnings growth analysts expect. I'm a shareholder, and I can't see selling at that price. What's your take? What you buy shares of OmniVision at current prices? Please weigh in using the comments box below.
Interested in more information about OmniVision? Add it to your watchlist.