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 audio-chip maker Cirrus Logic
So what: While the Apple
Now what: Expect the shares to remain sluggish in the short term. Citing continued weakness in the economy, management forecasts third-quarter revenue of just $102 million to $108 million, while analysts were expecting $108 million. Of course, with the stock now trading at a P/E of 5 and CEO Jason Rhode reassuring investors that its remains "well positioned to capitalize on some extraordinary growth opportunities," Cirrus might be a long-term opportunity worth checking out.
Interested in more info on Cirrus? Add it to your watchlist.
Fool contributor Brian Pacampara owns no position in any of the companies mentioned. The Fool owns shares of Cirrus and Apple. Motley Fool newsletter services have recommended buying shares of and creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days.