RBC's Doug Freedman has downgraded the chip sector to Market Weight from Overweight, citing...
Tuesday, September 18, 2012, 10:00 AM ETRBC's Doug Freedman has downgraded the chip sector to Market Weight from Overweight, citing inventory issues, poor PC and telecom equipment demand, and a softening Chinese market. "The current cycle is unique in that semis have contracted three quarters only to exhibit one-quarter of recovery," says Freedman. INTC, ADI, TXN, and NVDA are receiving downgrades, though BRCM is getting an upgrade on expectations of rising chip content within the platforms it's a supplier for.
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