Broadcom Hits a TOP PICKS LIST to Leads These 3 Chip and Big Data Stocks on the Move
Intel Corporation (NASDAQ:INTC): Because of concerns about weak Euro and Chinese demand, Baird is lowering its estimates for Intel. Although expectations showed a single-digit increase, Baird’s checks show that PC CPU/chipset shipments to Asia have decreased in the mid-single digits quarter over quarter in Q2, and channel inventories for Intel chips have risen. Baird believes PC OEMs are lowering their forcast for shipment in Q3.
Broadcom Corp. (NASDAQ:BRCM) has been added to Citigroup’s Top Picks Live list due to valuation and the company’s role with the iPhone 5 and Samsung. Citi maintains a Buy rating on the stock with a $45 price target. The shares traded down $0.53 (1.64%) recently at $31.82.
QUALCOMM Incorporated (NASDAQ:QCOM): Following RF Micro’s 33% stock fall during the March quarter, Cantor believes that the company will created growth and higher margins throughout the rest of the fiscal year. The company is also improving its position with Qualcomm and Samsung, and Cantor reiterates a Buy rating on the stock with a $45 price target. The shares traded down $0.53 (1.64%) recently at $31.82.
SanDisk Corp. (NASDAQ:SNDK): Although the firm maintains an Outperform rating on SanDisk because of its exposure to high-growth markers, RBC’s Dough Freedman believes investors should be patient until NAND flash prices stabilize before they buy. SanDisk management told Freedman that spot pricing for some low-density NAND parts have stabilized, but pricing is still weak. Also, Freedman insinuated that Samsung’s efforts to limit NAND supply may be bolstering prices.
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