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Broadcom Corp. (NASDAQ:BRCM): Texas Instruments (NYSE:TXN) is currently trying to optimize its network processors for its OpenFlow standard. OpenFlow is based on the idea of software-defined networking (SDN) and threatens any proprietary Ethernet switch sales from Cisco (NASDAQ:CSCO) and others via its off-the-shelf chip reliance and open standards. TI’s use of OpenFlow may assist it as a competitor of market leaders such as Broadcom (NASDAQ:BRCM) and Marvell (NASDAQ:MRVL). The shares traded down $1.12 (3.32%) recently at $32.52.
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QUALCOMM Incorporated (NASDAQ:QCOM): Hewlett-Packard (NYSE:HPQ) will release a 10-inch Windows RT (NASDAQ:MSFT) tablet with Texas Instruments (NYSE:TXN) processors during Q4 or the year. Dell (NASDAQ:DELL) will also reveal a tablet using Qualcomm (NASDAQ:QCOM) to the market in the same time frame, DigiTimes reports citing supply chain sources. The shares traded down $0.94 (1.67%) recently at $55.31.
Seagate Technology PLC (NASDAQ:STX) has fallen moderately, as does Western Digital (WDC -0.7%) following the former’s FQ4 warning. The recent selloff of the company, coupled with low valuations, appear to limit the downside. Baird has downgraded Seagate to Neutral, but the company is being defended. Neeham is pleased the Seagate predicts gross margin will remain over 30%. Seagate’s huge stock buybacks ($1.2B spent in FQ4) comforts Brean Murray. The shares traded down $0.12 (0.50%) recently at $24.95.
Western Digital Corp. (NYSE:WDC) estimates were reduced by CLSA due to a demand slowdown as well as an expected inventory correction at OEM customers. The firm also mentions that the company is not experiencing similar execution issues as Seagate (NASDAQ:STX) and that its June quarter downside is lower. Shares have an Outperform rating. The shares traded down $0.34 (1.11%) recently at $31.02.
VMware, Inc. (NYSE:VMW): Both VMware (VMW -6.3%) and Cognizant (CTSH -2.9%) are being downgraded to Hold by Berenberg due to concerns regarding weak enterprise IT spending, mainly in Europe. Although the firm does not “expect a blood bath” over IT names during Q2, it does believe there are high odds for full-year guidance revision. VMware has already experienced pressure from Informatica’s Q2 warning. The shares traded down $6.24 (6.92%) recently at $83.97.
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