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IFA, InvenSense and software +2
The IFA electronics
show starts next week, but pre-announcements are the norm there.
What we can tell so far is that the wearables market is continuing
to expand. The broad array of makers and innovation in specialty
is good for InvenSense. Of particular interest this year is
improved heart rate monitoring. I've already
documented how older devices failed miserably at this task,
and how InvenSense offered
software to amend the situation. Consequently, we might see some
positive press for the company in the next week or so, but I would
The timing is about right for InvenSense to start seeing material
benefit. Its solution applies to PPG sensors, which are the most
common type. However, both FitBit and Apple
have patents in this space, though the Apple solution seems poor
in that it requires a duplicate sensor. Personally, I probably
won't be satisfied until InvenSense can start breaking out revenue
from software licensing. The company should report again at the
end of October, when I'll be taking a very hard look at guidance.
I think there is plenty of time for INVN to retest the lows around
$6 in the interim.