Some thoughts on SiRF Tech (NASDAQ:SIRF)

By: Notable Calls Tuesday, February 05, 2008 12:58 PM

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- I have counted about 6 downgrades on SiRF Tech (NASDAQ:SIRF) this morning. The stock is down 40% after not meeting estimates and guiding down last night. Most analyst tgts now stand around $10.

I have a few points I wanted to make:

- First, this can't be a total surprise considering what Harman (NYSE:HAR) had to say about navigation devices.

- I was talking to a wireless/GPS analyst just yesterday who indicated that the SiRF chip may be designed into Google's phone.

- GPS functionality will be widely available in handsets sooner or later.

I think SIRF is a bounce candidate here @ around $9.

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