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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 203.76-1.1%Nov 21 3:59 PM EST

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From: romus6/9/2006 6:13:38 AM
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Prudential ups chip sector to favorable from unfavorable - MarketWatch.com

Prudential upgrades chip sector, STMicro, Maxim

By Steve Goldstein
Last Update: 4:29 AM ET Jun 9, 2006

LONDON (MarketWatch) -- Prudential Equity Group upgraded the semiconductor sector to favorable from unfavorable, and lifted STMicroelectronics (STM) (FR:012970) and Maxim Integrated Products (MXIM) to neutral weight from underweight. Prudential said inventories are at all-time March quarter lows in a number of places in the supply chain. "We view lean inventories at these critical areas as a positive for the semiconductor sector," the brokerage said. Prudential said STMicro's exposure to the wireless sector adds visibility to growth and said a lot of downside is built into Maxim's stock. It reiterated an overweight on Advanced Micro Devices (AMD) and Texas Instruments (TXN) and an underweight on Intel (INTC).

marketwatch.com
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