OmniVision (OVTI - option chain) stock is trading sharply lower today after Sony (SNE) CEO Howard Stringer said late Friday that his company is supplying camera components to Apple (AAPL). This could pose a threat to OVTI's AAPL business, as OVTI had been the main supplier of image sensors for the iPhone. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on OVTI.

This morning, OVTI opened at $34.06. So far today the stock has hit a high of $34.10 and a low of $32.20. As of 12:15, OVTI is trading at $33.15, down $3.04 (-8.4%). The chart for OVTI looks neutral and S&P gives OVTI a neutral 3 STARS (out of 5) hold ranking.

Do you want to watch television on your iPad? No problem. Just download an app. Cablevision (CVC) claims that its customers can watch 300 channels at home, according to Reuters.

The interesting feature of this program is that you don't need the Internet. Cablevision uses a digital code to deliver content to an Apple (AAPL) iPad. The app allows you to search channels by genre and record programs.

Most investors would like a "do over."

They look back on certain investments and wish they'd never heard of, much less put money in them. Sure things like your good friend's invention that would make beer in one day from water and weeds. Or your brother's idea of selling real estate on Saturn. Everyone has their own stories. Mine are usually related to private investments in the medical device field or biotech, though I did have one out of Florida that made a "pig" that ran through oil pipelines to check on their safety. After meeting the founder who looked more like a used car salesman that caught a great sale on polyester suits, I should have known better right then. But I didn't.

Two questions on investors' minds are: Should I buy Apple (AAPL), and where is the stock headed? Leading banks and financial advisory firms hire analysts, whose job it is to figure out the strengths and weaknesses of a given company -- and from that data make a recommendation and a projected stock price.

At Morgan Stanley that analyst is Katy Huberty. In a Fortune article she describes two possible scenarios for Apple. One is her best case. The other is her bearish take.

First came the PC, then the notebook and netbook. Now we fast forward to the smartphone and the tablet. These new devices are taking the technology world by storm. Apple (AAPL) could sell 30 to 65 million iPad 2s this year.

As a result, The PC industry is bleeding badly. Look at these numbers:

• February revenue from PC makers in Taiwan is down 20%. The number is significant because Taiwan manufacturers 90% of all PCs.
• Hon Hai (HNHAF), which makes Apple products and PCs for Dell (DELL), saw shipments down 18% in February, as reported in Financial Times.
• Gartner, a research consultancy, lowered PC shipments by 5% to 387.8 million units this month.

The market tried to hit a new two-plus-year high again today. Anything cautious for the markets is being discounted and valuation concerns are out the door. It seems the bulls are in charge -- regardless of what comes down the pipe in the Middle East, Japan, the PIIGS and elsewhere. Even a goal of only aiming to cut foreign energy dependence by one-third did not rattle markets. The TARP even made money. Maybe we can just convince Bernanke to go ahead and raise rates to get the pain over with, once and for all.

Here were today's unofficial closing bell levels:

Dow Jones: 12,350.61 +71.60 (0.58%)

S&P500: 1,328.26 +8.82 (0.67%)

Nasdaq: 2,776,78 +19.90 (0.72%)

Top Analyst Calls

iShares MSCI South Korea Index Fund (EWY) April put option implied volatility is at 25, July is at 29; compared to its 26-week average of 27, according to Track Data, suggesting less near-term price movement compared to outer month risk.

CBOE Volatility Index (VIX) closed up 1.53 to 19.44.

Option volume leaders today: Apple (AAPL), Citigroup (C), Netflix (NFLX), Kraft (KFT), according to Track Data.

Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Verizon Communications (VZ), first discussed here on February 12, 2009, at a price of $29.86, continues to power higher, ascending to about $37 with a few hiccups, and I still like the shares here.

In 2011, slow growth and dividend play Verizon should post a 2% to 2.5% revenue gain, after flattish revenue in 2010, with data services being the key revenue increase driver. Meanwhile, Verizon's landline business continues to provide revenue stability.

Apple's (AAPL) iPad 2 got off to a great start during the first weekend of its launch, selling an estimated 400,000 to 500,000 units. Apple holds a substantial lead in the tablet market over competitors like Research In Motion (RIMM), Motorola Mobility (MMI), Dell (DELL), Samsung and LG Display.

How Much Will Suppliers Benefit from iPad 2 Sales in 2011?

Here we take a look at how much various iPad 2 component suppliers stand to gain from the product's success. We assume that Apple will continue to source iPad 2 components from the same set of suppliers throughout 2011.

A new business model is springing up right under our noses. The big players like Apple (AAPL), Amazon.com (AMZN) and Google (GOOG) have put together a one-stop shop in their app stores.

First off, an app store is just that, a place where you can pick and choose the apps you want to download. The app store is also a place where entrepreneurs can develop an app and with permission place it on the iPhone, iPad or Android device.

The fast moving world of investing can turn on a dime, especially if you own technology stocks. Research In Motion (RIMM) was a smartphone darling. But then came the iPhone and now the iPad. Then we have Google's (GOOG) Android following on Apple's (AAPL) heels.

RIM suddenly woke up a found that it had fallen off its perch. Now the company is scrambling to do catch up. BlackBerry is losing North American market share and the company expects to ship only 13.5 to 14.5 million Blackberry's this quarter, down from 14.9 million last quarter, according to Reuters.