Seeking Alpha

Apple-dependent Cirrus Logic (CRUS -2.3%) and OmniVision (OVTI -3.4%) are finishing the day...

Apple-dependent Cirrus Logic (CRUS -2.3%) and OmniVision (OVTI -3.4%) are finishing the day lower. On top of a general selloff in chip stocks (spurred by Intel, Samsung, and PC industry worries), shares are likely pressured by a Wedge Partners report claiming Apple is cutting iPhone build orders by 20%.
Comments (2)
  • Perhaps deserved for CRUS, but completely undeserved for OVTI. If you read OVTI's last report they are selling into low and mid-price chinese phone makers and this is very much a booming market.
    8 Jul 2013, 03:54 PM Reply Like
  • I have owned OVTI for eight years. I gave up on buy and hold after understanding more about this business. It is an intriguing company that has alternative spurts of innovation and failure. My recent clue was Anson Chan, the CFO selling nearly all of his shares at what turned out to be the recent peak of over $20. Loosing the prime money camera spot in Apple to Sony some time ago should relieve the company of a close association but here we are again. Do investors not know this company is no longer Apple dependent?
    9 Jul 2013, 08:31 PM Reply Like
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