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J.P. Morgan's Chris Blansett chops KLA-Tencor (KLAC -4.7%), Lam Research (LRCX -4.5%) and...

J.P. Morgan's Chris Blansett chops KLA-Tencor (KLAC -4.7%), Lam Research (LRCX -4.5%) and Novellus (NVLS -4.4%) to Underweight, predicting a "downtick" in capital expenditures by chip foundries in H2 of this year, and that capex in the memory and logic sectors of the business will be lower than many investors expect.
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