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: Chinese communications chip maker Spreadtrum Communications (Nasdaq: SPRD) took a 10.6% nosedive in early trading today.

So what: The company's third-quarter report, released last night, beat analyst expectations, and next-quarter guidance is also solidly ahead of Wall Street projections. The immediate after-hours reaction was to send the stock up by more than 6%, which seems more appropriate than this public whipping.

Now what: Then again, the stock has tripled in a year and a little bit of profit-taking seems to be in order. Spreadtrum's GSM radio chips have been a standard part of Samsung phones since 2009, meaning that at least some of the spectacularly successful Galaxy S Android phones are lifting this company's sales and profits. Spreadtrum should send a nice, big fruit basket to Samsung and another to Google (Nasdaq: GOOG) for all the help.

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Fool contributor Anders Bylund holds no position in any of the companies discussed here. Google is a Motley Fool Inside Value pick. Google is a Motley Fool Rule Breakers recommendation. The Fool owns shares of Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.