at Investor's Business Daily (Tue, 6:10PM)
Unlike some rivals, RF Micro Devices' (RFMD -18%) core power amplifier business isn't exposed to...
Unlike some rivals, RF Micro Devices' (RFMD -18%) core power amplifier business isn't exposed to Apple. But it is exposed to Nokia, RIM, and HTC, and as the guidance accompanying its Q2 report demonstrates, and that's worse. Blaming macro issues and delayed smartphone launches (BlackBerry 10?), RF Micro expects Q3 revenue to be flat to down 5% Q/Q, and EPS to come in at $0.00-$0.01. That's easily below a consensus for a 10% gain and $0.04. Northland, UBS, and Craig-Hallum are downgrading. (transcript)
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