Intel Corporation’s (NASDAQ:INTC) estimates get reduced again by Cleveland Research, which based the move on weak PC end demand and pricing pressure. CR is still negative on Intel through the second half of 2012 and foresees risk to earnings; shares are rated Neutral.
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Broadcom Corp. (NASDAQ:BRCM) has its estimates cut by Ross Seymore at Deutsche Bank, who is the most recent analyst to do the same. The downgrade comes ahead of July 19th second quarter release, and is said to have been prompted by macro worries. Seymore is also reducing estimates for Texas Instruments (NYSE:TXN), but the cuts are generally small in scope, and he believes that chip stocks, which have underperformed the S&P in 2012, are in for a rally.
QUALCOMM Incorporated (NASDAQ:QCOM) seems to be progressing on addressing its 28nm supply shortage. Last week, it was reported from Taiwan that UMC has been recruited as a backup source for the manufacturing process, and now it appears that the top mobile chipset producer has gained the services of Samsung as well, in which to further reinforce its supply chain.
Rambus Inc.’s (NASDAQ:RMBS) Cryptography Research, Inc. (NYSE:CRI) division and Discretix reported Wednesday that they have reached an agreement which allows Discretix to develop products incorporating Differential Power Analysis (DPA) countermeasures for use by licensees of CRI’s DPA patents. Discretix is a supplier of field-proven content protection and embedded security solutions for mobile applications.
EMC Corporation (NYSE:EMC) conducted a “very aggressive end-of-quarter push” in June, according to Stifel’s checks, as it deals with the weak European demand plus foreign exchange challenges that have already impacted several enterprise IT names. Stifel keeps its Buy on EMC, but worries that new products won’t have a major impact until the end of 2012. EMC’s second quarter report will be released on July 24th.
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