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OMNIVISION (OVTI) SLUMPS ON WEAK OUTLOOK ON LOSS OF APPLE (AAPL) BUSINESS TO SONY (SNE)

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OmniVision ( OVTI)   is a premier manufacturer of sensors for cameras.  

Earlier this month, OmniVision had warned of cut backs in orders from certain key projects.   It has been speculated that the cut back is from Apple (AAPL) in favor of Sony (SNE).  

For the January quarter, OmniVision  sees revenues of $160 – $180 million compared to consensus of   $201 million.   OmniVision also projects earnings of $0.05 – $0.17 below the consensus of $0.26.

Tax selling may further exacerbate the downside.

If and when six screens of the ZYX Change Method  are satisfied, we will issue a buy signal on the Real Time Feed of the ZYX  Buy  Change Alert.

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