SIMO is breaking out from a 3 month cup-shaped base. Nice up-side action with good volume conviction (about 350% DAV) triggering a technical buy signal.
“Needham & Co reiterates Buy on SIMO. Target $20 to $24. Needham raises their tgt on SIMO to $24 from $20 following their visit to C.E.S and meeting with SIMO management, they believe demand for flash memory cards in general, and for microSD cards in particular, remains strong and that the flash card industry may see less severe seasonality in 1Q07 than in the past two years. ” – Briefing.com
The SEC, late friday afternoon said that it has opened a criminal investigation regarding the options grant to Jobs in 2001.
After all that Steve Jobs has done for Apple and its shareholders since his return to the company in 1997, the average AAPL shareholder could care less if the probe finds Jobs guilty especially considering the dramatic transformation of Apple’s market capital in ’97 compared to its current market cap.
The man has run the show singlehandedly to lead the company where it is by his successful stints like the legendary iMac, cool gadgets like the iPod, the innovative iTunes store or the upcoming ones like the iPhone or iTV. He is the cultural icon of consumer Electronics, for crying out loud and if the man wants to have his fair share of the pie, so be it.
Whatever it is, the vicious game that Apple plays with Uncle Sam and the SEC Goliath may take a sharp turn if Jobs decides to close shop and Apple’s fortune could turn south overnight on any such news, but thats something not likely to happen, for Apple even has the former almost president say that Steve’s OK.
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Nothing beats free lunch. 🙂
Keep them under the radar as many of them seems to be Stong Buys.