Baron Funds Comments on Synchronoss Technologies

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Aug 23, 2012
From Baron Funds' second quarter commentary:

Synchronoss Technologies, Inc. (SNCR, Financial), the software company that activates and connects smartphones to mobile networks and provides synchronization services, declined 42.1% in the quarter, after announcing that sales to AT&T would be lower than projected. The company had been growing rapidly and traded at a high multiple, so it was punished by the miss. Sales to Verizon, its next largest customer, were fine and the company has a big opportunity to grow sales with that carrier and others.We think the stock is now cheap and we are holding onto our full position.