That's what Atmel
Atmel doesn't have the all-important Apple account for iPad screen controllers; that job falls to a combination of chips from Broadcom
And here's the kicker: Non-Apple tablets have done some decent business this year, but there's a "very significant adjustment" going on in this nascent fourth quarter. Tablets not named iPad are sitting unsold on store shelves and in distribution channels, according to Laub. The demand for these things has "softened." This sounds an awful lot like consumers got bored with alternative tablets.
As a result, Atmel's third-quarter sales came in short of Street targets and the next quarter will be even lighter.
The third generation of maXTouch controllers is "clearly superior to anything else announced by others," says Laub, and ships in volume next year. Those are bold words.
Will Apple choose this allegedly superior technology over the current TI-based solution? Will the improvements be noticeable to consumers and made into a selling point for Motorola Mobility
Granted, Atmel shares look cheap at less than eight times trailing earnings. But with falling revenue ahead, that might be all Atmel is worth right now. But maybe the company can deliver on its promises and rise up to double-digit earnings multiples. To find out, you'll need to keep a close eye on Atmel. Just click here to add the stock to your Foolish watchlist, and you'll be set.
Fool contributor Anders Bylund holds no position in any of the companies mentioned. The Motley Fool owns shares of Texas Instruments and Apple. Motley Fool newsletter services have recommended buying shares of Dell, Cypress Semiconductor, and Apple, as well as creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.