- Applied Micro Circuits (AMCC -7.9%) shares slid into the close today after the company posted a beat in FQ2 yesterday afternoon.
- The possible reason: management's guidance (conference call) for revenue of $53M-$57M in FQ3 was light compared to investor expectations (and the Street's forecast of $57.6M). Gross margin is expected at 60.5% +/- 0.5%, opex at $31M-$32M.
Applied Micro Circuits slides on lower-than-expected guidance
Oct 25 2013, 16:23 ET