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AppliedMicro -11% on strong volume

  • AppliedMicro (NASDAQ:AMCC) has tumbled out of the gate. Volume (1.21M shares) has already topped a 3-month daily average of 931K.
  • Shares fell more moderately on Friday, taking part in a chip stock selloff that followed Micron's results/guidance. The telecom IC/ARM server CPU developer is now down 18% from a June 19 peak of $8.09, after having previously soared with the help of M&A hopes.

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AMCC--
Applied Micro Circuits Corporation