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.

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.

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.

Verizon (VZ) primarily competes with Sprint Nextel (S) and AT&T (T) in the mobile subscription plan business. The average monthly fee that Verizon's postpaid wireless subscribers pay for wireless service, excluding data service, has been consistently declining over the past few years. The decline in pricing is mainly attributable to nearing saturation of the U.S. cellular market, creating fierce competition among telecom players to maintain and increase their market share.

A successful Verizon-iPhone (AAPL) deal and rising data revenues from smart phone penetration could, however, offset declines in average mobile plan prices.

Microsoft (MSFT) and Nokia (NOK) recently announced a strategic partnership in which Nokia will adopt Windows Phone 7 as the main operating system for its smart phones. Microsoft competes with other tech bellwethers like Google (GOOG), Research In Motion (RIMM) and Apple (AAPL) that make smart phones and tablets, as well as the corresponding operating systems for mobile phones and tablet devices.

We believe the Nokia deal presents upside for Microsoft, as it provides an opportunity to gain share in both the smart phone operating system market and the search advertising market by leveraging Nokia's large global presence.

Lately, Research In Motion (RIMM) has been ramping up its dealmaking. Some of the recent transactions include QNX, Dash Navigation and Torch Mobile.

Tthe latest deal came this week: RIM agreed to buy Gist (the price tag was not disclosed). The company develops a service that prioritizes incoming messages. It even provides the user with helpful research information on contacts, such as from social networks and blogs. The app is currently for Apple's (AAPL) iPhone and Google's (GOOG) Android devices.

"Is Apple ((AAPL) undervalued? We expect the company's earnings to grow at a rapid 24% pace during the next five years," says J. Royden Ward who believe the tech stock meets the criteria for a long-term value investment.

The editor of Cabot Benjamin Graham Value Letter explains, "At 14.7 times our one-year forward EPS estimate, shares are clearly undervalued. Indeed, we consider AAPL to be low risk.

"Apple develops, manufactures and markets personal computers and consumer electronic products. Exciting new products portend continued rapid growth in future years.

New technology spawns still more technology. Such is the case with smart phones. Entrepreneurs have found a way to facilitate buying with your smart phone. Companies like Intuit (INTU) and VeriFone (PAY) have created a card reader that can be inserted into your iPhone (AAPL) or other smart phone. Then you can swipe a credit card through the reader and use it to make online purchases.

The potential of this new technology is enormous. Analysts estimate that the industry will grow to $11 billion this year.

Investors are always searching the landscape for new and upcoming companies. This year and last the tech sector has had the greatest stars. One small tech company on the move is Nvidia (NVDA). The company specializes in visual computing technologies.

Why give this company a second look? Apple's (AAPL) iPhone and iPad have changed the way we view the Internet. Now the iPhone and iTablet are using an increasingly large amount of graphic design. Nvidia is on the cutting edge of this new technology.

This is probably one of the most interesting stories of the Internet revolution. Microsoft (MSFT) jumped out the starting gate with its Windows operating system and took the world by storm. Then for some unknown reason, Microsoft missed the entire search engine revolution and Google (GOOG) raced to first place. Now Microsoft has again missed the next leg -- the iPhone and iPad revolution, and Apple (AAPL) holds first place in this segment.

Nokia (NOK) was a pioneer in the smartphone revolution, but with Apple's drive to the top, Nokia lost its momentum. Once Nokia had 50% of the handset market. Now that share has fallen to just 29%. It's hard to believe but Microsoft has only 2% of the global phone software market.

Yesterday marked a pretty big day for Verizon Communications Inc. (VZ), as customers could finally walk into a Verizon store and pick up an iPhone. Some analysts had expected to see some long lines, but they did not materialize, creating the impression that the launch was less than successful, but looks can be deceiving.

It is easy to understand where the confusion comes from. In the past, whenever Apple released a new iPhone we saw long lines and often not even supply to cover the launch date demand, resulting in long waits for eager iPhone fanatics to get their hands on the new smartphone.

Apple, Inc.'s (AAPL) gibe at Google Inc.'s (GOOG) Android OS is that it was not designed for tablets. Google answered that challenge last week with the launch of Honeycomb. Motorola Mobility's (MMI) Xoom, due out later this month, will feature Honeycomb and should make a splash in the tablet market as competition heats up among tablet manufacturers and affiliated operating systems.

Even with the older version, Android has already started to dent iPad's market share due to the success of Samsung's Galaxy Tab, and we expect that Xoom could improve Android's position intensifying the showdown between Android and Apple's iPad OS.

Tomorrow is a big day for Verizon (VZ) customers who have been waiting to get their chance to join the iPhone revolution, and we now learn that Wal-Mart Stores (WMT) will also be carrying the Verizon iPhone 4 at 600 retail stores across the nation.

As of today, when you visit Apple's (AAPL) website you are given the option to order an iPhone for use on either AT&T (T) or Verizon, with the price being the same for either option.