Freescale (FSL +10.9%), LSI (LSI +5.8%), and Applied Materials (AMAT +4.9%) lead a major rally...
Tuesday, August 7, 2012, 1:35 PM ETFreescale (FSL +10.9%), LSI (LSI +5.8%), and Applied Materials (AMAT +4.9%) lead a major rally in chip stocks (SOXX +2.6%) after Goldman upgrades the companies. Discussing Freescale, Goldman argues downside to estimates is limited given soft guidance and a lean supply chain, and (more importantly for peers) the firm expects EPS to be "up significantly" in 2013 and 2014 thanks to a new chip industry up cycle. MU +5.4%. NXPI +5.8%. MRVL +4.8%. ATML +5.9%.
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