Friday, July 29, 2005
Well, it was simply too tempting. I couldn't resist the discount. I snagged some Synaptics (SYNA) after its major drop today at $15.95. I really should have picked it up earlier in the day when it was near $15.25, but it took some time for me too do some quick reading on it to get a better understanding of its earnings report. One piece of the reading material was the CSFB report released late last night... I gave the report some credence, as a lot of what was said made a lot of sense. They suggest that a price of $18 would imply a complete loss of the Apple (AAPL) iPod business and also some serious margin contraction. I also took note of their cash stockpile... $9 per share. I believe there's a good chance that the selling was seriously overdone. $18-20 is probably a fairer price for the stock. Hope to cash in then.