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BMO Capital starts coverage of Applied Micro Circuits (AMCC +3.5%) at Outperform, writing that...

BMO Capital starts coverage of Applied Micro Circuits (AMCC +3.5%) at Outperform, writing that the company's decision to start making chips for the server market in competition with Intel (INTC) increases the attractiveness of the stock’s risk and reward trade-off. AMCC is one of the first firms to design and market a 64-bit server chip based on ARM technology.
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