Intel AFFECTED By Low PC Demand and 4 Chip and Big Data Stocks on the Move
Intel Corporation (NASDAQ:INTC) has fallen 0.2 percent and will receive more estimate cuts by Bernstein and Williams Financial before tomorrow’s Q2 report. Bernstein is also cutting AMD and predicts that Intel will reduce its full-year PC guidance due to weak industry data. The firm does not think ultrabooks or Windows 8 will create any kind of rebound, and the firm is also concerned about the company’s mobile position and how sustainable its gross margin is. According to Williams, poor supply-chain data suggests a PC growth of only 2-3 percent this year. The shares traded down $0.12 (0.48%) recently at $25.13.
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Broadcom Corp.’s (NASDAQ:BRCM) Outperform rating on its stock was reiterated in a research not by FBR Capital on Monday. The shares traded down $0.36 (1.16%) recently at $30.66.
QUALCOMM Incorporated (NASDAQ:QCOM) was upgraded by Societe Generale due to valuation. The shares have a $57 price target. The shares traded down $0.66 (1.2%) recently at $54.318.
ARM Holdings plc (NASDAQ:ARMH) Asia Pacific VP Mark Pittman states that app developers will now be able to use their owned developed apps for Android to MIPS (NASDAQ:MIPS)-based products, according to DigiTimes. Pittman also explains that ARM will stay committed to growing market share within Asia. The shares traded down $0.22 (0.96%) recently at $22.66.
SanDisk Corp. (NASDAQ:SNDK), down 1.3%, was downgraded to Neutral by Baird before its Q2 reports on Thursday due to ongoing NAND flash weakness, weaker than expected SSD demand, and continued mix shift. The firm also lowered the company’s price target from $48 to $32. However, Bank of America upgraded SanDisk during late June. The shares traded down $0.78 (2.33%) recently at $32.64.
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