
With the bounce today, I am going to buy back not only what I sold last week, but more... increasing the already good sized position by another 1.7% or so. This is fundamentally one of the best stories out there, and unlike many things people are chasing into at 40, 50, 60x forward earnings is VERY reasonable versus its growth rate.
To that end, analysts have increased full year 2010 estimates from $2.11 to $2.54 since last week's earnings report, so the stock just got even cheaper. Even a 20x forward PE ratio would give it a $50+ valuation. But I guess it is better to go buy a retail stock at 45x forward estimates instead...
Frankly, Atheros should be doing far better stock wise as the stocks people are chasing are so much more rich in value.
Long Atheros Communications in fund; no personal position