with a RSI number hitting below 30 now puts AMCC in an oversold position. Just in time to match up with the possibility of a very good Q2 earnings to be released within the month. Also, AMCC is having a "in house press conference" on October 14. This is very interesting and may be the possible release of the new X-Gene 3. All of this could help drive the share price higher possibly, maybe?? hopefully???
Last Edit: Sept 28, 2015 16:31:26 GMT -5 by christopher
I think you called it. I think that because AMCC is a supplier of chips to the capital equipment makers that the share price is very sensitive to the macro environment.
That being said... I also think that AMCC might be the current low-cost supplier given the total cost of ownership, which might argue for a good top-line showing even in a down economy.