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FBR's Craig Berger, who made a bearish call on chip stocks in July, is reiterating his stance....

FBR's Craig Berger, who made a bearish call on chip stocks in July, is reiterating his stance. China and Europe's macro issues, U.S. budget worries, soft PC demand, and slumping auto production are all named as concerns. Berger views ATML and sell-side whipping boy AMD as the "most risky" names in the space, but considers QCOM, BRCM, and MXIM relatively insulated thanks to their Apple/Samsung exposure. Chip stocks rallied for much of the summer, but have lately corrected.
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