In the week following its 1Q earnings conference call QuickLogic (NASDAQ:QUIK) shares declined approximately 30%. The catalyst for this price action was the company's forecast for a drop in second-quarter revenue reflecting an inventory adjustment at the company's largest customer, Samsung. While the forecasted revenue decline for second quarter is disappointing, in our opinion the totality of the information the company presented on its conference call about its near-term and long-term growth outlook was overwhelmingly bullish.
In fact, we're fairly certain that the immediate fixation on 2Q revenue variability will prove entirely irrational as it ignores the overwhelming evidence that suggests the company is on the cusp of a very robust revenue ramp. As such we would use...
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