Ashraf Eassa
Long/short equity, contrarian, independent research, tech

Applied Micro: Earnings Call Confirms Need For Continued Skepticism

Applied Micro (NASDAQ:AMCC) gave an update on the status on its very hyped 64-bit "X-Gene" server-on-chip processor, which confirms my thesis that the company continues to mislead investors with the "numbers." While I have significantly detailed my short thesis here, and I followed up the piece here, I believe that certain statements made on the conference call and in the earnings release continue to mislead (but wording is carefully chosen so as to keep all statements "factual") investors, and more precisely, the sell-side analysts, both of whom are likely to see this earnings call as a source of renewed optimism for a company that, by all accounts, has given investors no reason to believe them.


Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
  • Access Top Ideas, chosen by Seeking Alpha’s editors
  • Filter long and short ideas by market cap and sector
  • Get Coverage of over 5,000 stocks, many of which have little or no coverage elsewhere
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO." Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else." Patrick Rice, Mainstay Capital Management
100% Satisfaction Guaranteed
Money back guarantee. Seeking Alpha PRO members receive a no-questions-asked refund for membership on months paid and not used. Details