All we've been hearing throughout earnings season is how important top line revenue growth is. Companies that have met or slightly beat the earnings estimate, but were light on top line revenue growth were punished.

In this instance, we have SPIL reporting 18.4% Q over Q revenue growth. This really comes as no surprise given that SPIL customers like INTC and SNDK have reported growth in their businesses.

With a forward PE of 11 and the political risks no longer present in the stock (which was a major problem with the prior Taiwanese gov't regime), this may be the point to go contrary to today's action and go long.