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INVN opportunity tomorrow morning? ?3

23:07 21-Jul-15


If after hours is any indication, INVN may suffer along with Apple stock and other suppliers following a lack-luster third quarter report from the Cupertino company.  Interpretations on some details, such as Watch sales, vary, but there's little denying that 47.5M iPhone sales fell short of the 50M that was projected.  The reversal is is not so surprising to me, particularly where the Watch is concerned, except that I thought both the up and down sides might have been larger. 

More importantly, I'm not inclined to think this event is all that material to InvenSense.  On a pure revenue basis, the maximum effect of the miss for InvenSense should be 2 or 3% at most.  While there are lots of open questions for InvenSense, I'd still be inclined to say that any drop in INVN exceeding those percentages is a buying opportunity for those who have room in their portfolios and believe in the company's long-term future, which should actually benefit from greater diversity in the mobile market.