No. I don't hear very good things from my 'source' on what's been going on over there. The future doesn't seem to be that bright with MRVL. Think about this-- why did they lose the new RIMM phone contract to Freescale? Why when they have supposedly such a great relationship with all the other phones they've been supplying?
I hear they have been losing their best talent(engineers). I don't know if it's because of the stock price drop with no end in sight or whatever. But maybe RIMM sees this uncertainty too and is trying to diversify? Even if it's just that then that alone justifies MRVL where it is today.
That's why I say move to BRCM because it's not 25% owned by one family. It's so diversified and extremely profitable that just the hint of a turn in Semi spending (book to bill) will jamm the stock back into the $30s. MRVL has no such potential short of them coming up with something unexpected.
They were strong today because of the WD upgrade.
Remember if you watch Fast Money about two weeks ago Najarian said someone bought 44k Jan 2009 SMH $26 calls for $1.60. That's what? $70 mill? That's a big bet on a big move in Semis between now and Jan.
If the cycle stuff is even close to being accurate then watch out!
RIMM tonight is killing the Nas futures. But the news from RIMM seems to me to be RIMM specific in terms of their expenses due to the 5 new phone rollouts. Why is it getting sold off $20 on that? Or should I say, why is AAPL and BRCM and QCOM all down 3% or so on this? They have nothing to do with RIMM spending on marketing more than everyone thought.
Seems to me this selling was just already setup and this was the excuse.
Remember, about BRCM - $200 mill free cash flow, $2bill in the bank and no debt. Hardly a stock that runs the risk of falling apart.
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