Better-than-expected Q1 PC shipment data bodes well for chip stocks, argues Sterne Agee. The...

|By:, SA News Editor

Better-than-expected Q1 PC shipment data bodes well for chip stocks, argues Sterne Agee. The firm expects chipmakers to deliver Q1 results in-line with or slightly above expectations, while lifting Q2 guidance. It adds AMD is likely to deliver more upside to estimates than Intel (INTC) due to low expectations, and that the latter could be hurt by weak early sales for ultrabooks, as consumers balk at high prices. (Barclays) (Needham)