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Apple Inc. (NASDAQ:AAPL): After conducting checks, Sterne Agee believes that Apple’s iPad production cuts are likely caused more by supply issues than slowing demand. The firm raised its iPad estimates and maintains a Buy rating on the stock.
Cree Inc. (NASDAQ:CREE): Needham believes LED demand continues to recover and that sector fundamentals will improve going into the seasonally strong Q2. The firm thinks LED inventories have reached levels where utilization rates are starting to increase. Needham continues to like Cree (NASDAQ:CREE) over Hold rated Aixtron (NASDAQ:AIXG) and Veeco (NASDAQ:VECO).
AMERIGROUP Corporation (NYSE:AGP): BofA/Merrill recommends buying Amerigroup (NYSE:AGP) and WellCare (NYSE:WCG) on recent weakness related to the surprising Ohio RFP results. The firm believes shares are oversold and that Ohio is a very small position for both.
Intel Corporation (NASDAQ:INTC): Wells Fargo predicts that Intel’s (NASDAQ:INTC) notebook processor revenue could grow close to 20% per year over the next several years, while the company could capture 10%+ of the smartphone market. The firm thinks that Apple (NASDAQ:AAPL) could eventually use Intel’s chips for its tablets, and it maintains an Outperform rating on Intel.
Owens-Illinois, Inc. (NYSE:OI): Baird said Owens-Illinois should rally following its positive earnings pre-announcement. The firm cited its recent share price decline, its franchise power, and relative valuation. Shares are Outperform rated with a $30 price target.
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