Last Update: 1:21 PM ET Nov 1, 2000: NewsWatch
Indications
ADR Report
Wednesday, November 01, 2000
J.P. Morgan cuts chips
--1:21 pm - By Tomi Kilgore
J.P. Morgan analyst Terry Ragsdale lowered his opinion of the semiconductor industry, saying "nobody has to remind us that we're late." He conceded that he had maintained a bullish stance on the sector despite a 39 percent decline in the Phlx Semiconductor Index ($SOX: news, msgs) since the end of March, as he focused on the supply side. The trouble now, he said, is that demand in several electronics markets has slowed. He believes "the next couple of quarters" will have the appearance of a "down" cycle. Among individual stocks that he downgraded, Lattice Semiconductor (LSCC: news, msgs) is down $3.94 to $25.25, Linear Technology (LLTC: news, msgs) is falling $2.13 to $62.44, Xilinx (XLNX: news, msgs) is giving up $3.75 to $68.69 and Analog Devices (ADI: news, msgs) is dropping $5.75 to $59.25.
Something to think about. I would sell these issues if you own them IMO |
