RBC's Doug Freedman has downgraded the chip sector to Market Weight from Overweight, citing...
RBC's Doug Freedman has downgraded the chip sector to Market Weight from Overweight, citing inventory issues, poor PC and telecom equipment demand, and a softening Chinese market. "The current cycle is unique in that semis have contracted three quarters only to exhibit one-quarter of recovery," says Freedman. INTC, ADI, TXN, and NVDA are receiving downgrades, though BRCM is getting an upgrade on expectations of rising chip content within the platforms it's a supplier for.
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