Spreadtrum Communications Beats, Boosts Guidance, But Faces No-Man's-Land

Trader Mark submits:

A very nice earnings report from old friend Spreadtrum Communications (SPRD) late last week, along with a big upgrade in revenue guidance. Frankly I am surprised the stock only gained 6% (it was up some 12% in after hours Thursday night). The stock obviously stalled at an almost identical place as the mid February intraday high. This makes it tricky; one would probably like to buy in any 'gap filling' moment, and/or at a new high - currently it is sort of in no man's land.

(Click to enlarge)

The main worry here is the product mix as China (and other emerging markets) move to 3G. Spreadtrum seems to be growing leaps and bounds in the older technology interfaces - but it's hard to know the competitive landscape in the newer generation build.

  • Sales of wireless chips by unit volume rose 46% from Q3 for chips serving 2G and 2.5G

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