As the SIA talks of "cautious optimism" regarding chip sales, JPMorgan's Chris Danely is...

|By:, SA News Editor

As the SIA talks of "cautious optimism" regarding chip sales, JPMorgan's Chris Danely is slashing estimates for Intel (INTC) and 4 other chipmakers (AMD, ONNN, TXN, and VSH) due to pessimism about PC demand. Danely notes contractors Wistron and Quanta have cut their Q2 notebook forecasts, and that checks indicate overall demand is slowing. He still likes ADI and XLNX, believing their margin profiles and dividend yields can allow them to outperform. (Baird)