Beaten-down chip stocks are rallying (SOXX +2.9%) thanks to pleasing reports from Broadcom,...

|By:, SA News Editor
Beaten-down chip stocks are rallying (SOXX +2.9%) thanks to pleasing reports from Broadcom, STMicroelectronics, Altera, and others. Interestingly, many Apple (AAPL -4%) suppliers, off initially on the FQ3 miss, are also gaining - even Cirrus Logic (CRUS +3.5%), which has 60%+ exposure. Two possible implications: the Street thinks Samsung will make up for any iShortfall, and/or it's less bothered by Apple's iPhone shipments per se than its margin and ASP declines. (more on AAPL)