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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