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Chip stocks are outperforming (SOXX +3.4%) after the SIA reports global chip sales rose 8.5% Y/Y...
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Wednesday, January 2, 11:00 AM ETChip stocks are outperforming (SOXX +3.4%) after the SIA reports global chip sales rose 8.5% Y/Y in November, albeit while falling 1.3% M/M. Though year-ago figures were depressed by an inventory correction and some were expecting a M/M increase, the sector has already priced in quite a bit of bad news. Equipment maker Lam Research (LRCX +5.5%) is one of the standouts after D.A. Davidson starts coverage with a Buy and $56 PT.
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