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: The bottom fell out of MIPS Technologies
So what: Promises of outsized Android-fueled profits and stealing share from peer ARM Holdings
Now what: While the Q3 numbers weren't great, it was the guidance that really got to investors. MIPS reduced its full-year revenue target from $85-$88 million to $84-$86 million. Management also anticipates an 8-10% decline in Q4 royalty revenue, Reuters says.
It's to early to tell if MIPS will fail to live up to my own rosy expectations. But I wouldn't buy at current prices. There simply isn't enough evidence of MIPS winning revenue-generating business from Google's