After the close on Tuesday, InvenSense, Inc. (INVN) reported earnings that, combined with the replacement of the CEO, sent the stock down as much as 20% at one point. This once high flying maker of motion sensing technology continues to struggle with forecasting the actual market growth of its products.
In previous quarters, the company spoke of a bright future interrupted by a chip shortage from Qualcomm (QCOM) limiting the ability of handset makers to utilize the motion sensing technology for 4G LTE phones.
Now the Q2 2013 earnings ending in September slightly beat estimates, but the company guided towards a weak December quarter. While still guiding strong yearly growth of 35%, the market is clearly disappointed that the higher end 40% growth rate wasn't reached.
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