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notes on the InvenSense bounce back ?2

13:49 24-Feb-15


After staying steady at 24% for a quite a while, the rebate rate on InvenSense has dropped below 22% today.  Given the volume, I read this as short covering ahead of MWC next week.  The recent low of $15 seemed like pretty agreeable pricing to me, but the pace and sustainability of the uptrend beyond this week is likely to depend on whether or not there are any fundamentally significant announcements at MWC.