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TQNT: Is the news as bad as it sound?

TriQuint Semiconductor (TQNT) is a tech name that has been around for years and today took a hit for about 5% on some news regarding the CDMA iPhone.

A report out from the research firm iFixit notes that a teardown of Apple’s  new iPhone 4 for Verizon Communications showed that TQNT lost some component market share from the AT&T version of the smartphone.

Next Inning Research is looking at TQNT to be one of the best performing semiconductor names in 2011 because of the explosion of wireless networks. Next Inning sees the demand for high-power RF and microwave communications products to accelerate notably over the next few years and they view TQNT as the best of breed.

Today when we heard this news we asked Next Inning what they thought of the news and whether or not it would change their thesis.  Next inning respond by saying nothing has changed.  They feel any familiar with the RF business knew that SWKS would win the RF sockets in the CDMA version iPhone.  NI said that it is well known that SWKS and Anadigics (NASDAQ:ANAD) are the two strongest players in CDMA space.
 
After reading this news and not having a position in TQNT I’m hoping to continue to see selling for the next few days as an overreaction will give me a great opportunity.  I’m going to wait for TQNT to find some support, $13/$14 and start to accumulate stock for the longer term bullish thesis.


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.