More on chip equipment stocks: Also hurting their cause is a somewhat bearish note from Citi....

|By:, SA News Editor

More on chip equipment stocks: Also hurting their cause is a somewhat bearish note from Citi. The firm is downgrading Lam Research (LRCX), and cutting estimates for Applied Materials (AMAT) and KLA-Tencor (KLAC). However, Citi remains bullish on KLA on expectations the company will benefit from TSMC's (TSM) 20nm process investments, and a shift in Apple processor orders from Samsung to TSMC. TSMC is expected to boost its 2013 capex by 35%, partially offsetting Samsung's cutbacks.