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 miniature projector technology expert Microvision (Nasdaq: MVIS) are soaring sky-high today, as much as 49% above last night's closing price.

So what: An analyst report speculates that Apple (Nasdaq: AAPL) may include pico projectors in next year's revisions of the iPhone, iPad, and maybe even iPod product lines. Nobody is saying that Microvision got a contract, but the rumor mill is powerful when you're looking at microcap stocks like Microvision.

Now what: Even if that analyst is right on the money with his projector projection, Microvision is far from the only game in town. Apple's projector technology could just as well come from privately held Syndiant, omni-technologist Texas Instruments (NYSE: TXN), or Taiwanese display builder Himax Technologies (Nasdaq: HIMX). If I owned any Microvision shares, I'd take profits today and wait for more substantial news later on.

Interested in more info on Microvision? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. Apple is a Motley Fool Stock Advisor pick. The Fool owns shares of Apple and Texas Instruments. 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.