It is my view that shares of Applied Micro (AMCC), a small semiconductor firm most widely known for its upcoming X-Gene "server on a chip" product, are highly overvalued.
It is my belief that the bull case, as well as management's own public statements, myopically overlook significant competitive pressures in what is unlikely to be a particularly large business with respect to X-Gene. In addition, it is my view that management is setting unrealistic expectations for this upcoming family of products from a competitive and market-share perspective, particularly as many of the claims either appear to be - either intentionally or unintentionally - deceptive. I further believe that the company's existing business, which consists primarily of fairly...
Only subscribers can access this article, which is part of the PRO research library covering 3,612 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: