In spite of weak macro data and numerous earnings warnings (I, II, III), Wells Fargo's David...

|By:, SA News Editor

In spite of weak macro data and numerous earnings warnings (I, II, III), Wells Fargo's David Wong sees reasons to be positive on chip stocks heading into 2012. Among them: chip sales have been lower than consumption levels; MU's FQ1 report was better than feared; and some chipmakers, such as BRCM and Taiwan's ALi, have been lifting guidance. It's worth noting Wong was bullish back in August, before the industry's correction hit.