Applied Micro Circuits (AMCC +8.3%) opened lower thanks to its FQ4 warning, but quickly reversed...

|About: Applied Micro Circuits Corp... (AMCC)|By:, SA News Editor

Applied Micro Circuits (AMCC +8.3%) opened lower thanks to its FQ4 warning, but quickly reversed course and closed with a heady gain. Fellow telecom chipmaker Cavium (CAVM) rallied in much the same way last week following its warning - the moves are likely evidence that some beaten-down chip names are pricing in a lot of bad news.