From Briefing.com: 3:46PM Microtune to announce new WLAN product? (TUNE) 10.32 -0.51: We are hearing chatter that TUNE is going to announce a new 802.11 WLAN product in the near future; however, the WLAN mkt already has several established players such as ISIL, TXN, and MRVL and it is unclear where TUNE's rumored new product fits into the mkt; while we have not been able to confirm this rumor, it is possible that it originated at TUNE's presentation this morning at Prudential's semi conference in London.
3:46PM Silicon Image (SIMG) 9.85 -0.05: This small-cap developer of PC/display interconnect technology has quietly advanced over 150% YTD thanks to analyst upgrades and small-cap strength. Shares fall slightly despite positive channel checks from Wachovia Sec that indicate SIMG is on track to meet/beat Q2 expectations as visibility continues to improve; firm puts Q2 revs at $19 mln (up 11.2% q/q) with EPS at a loss per share of $0.04. Wachovia sees storage ICs gaining momentum with SIMG benefiting from design wins at other key SAN switch OEMs.
3:25PM IBM (IBM) 81.64 -0.44: Following a meeting with mgmt, UBS Warburg maintains their Strong Buy rating and $120 price target on their view that the Middleware strategy is paying off and IBM has become a major force in different areas (such as database or systems management) and continues to gain share. Firm continues to believe IBM's distributed SW business can generate double-digit revenue, stipulating that the preponderance of the SW portfolio (residing in host-based business) will likely keep the near-term growth rates in single-digits. UBS rates IBM as very attractive due to its "large recurring profit engine (software and service);" shares have declined 20% over the last 3 months.
2:47PM Maxim Integrated (MXIM) 46.35 -0.80: Amidst continued sector weakness on valuation concerns, CSFB names MXIM as one of the best near-term and long-term fundamental plays in their semi universe; recent channel checks suggest continued momentum in orders and shipments for the qtr. Firm remains confident in their H2 ests, writing "while it is still early in the qtr, it appears as though MXIM and LLTC are continuing to work down their inventories." CSFB believes analog/mixed-signal cos are positioned to outgrowth the overall semi market, with MXIM best positioned to balance revenue growth and ROIC; rates MXIM a Buy with a $60 price target.
2:10PM Microsemi (MSCC) 14.19 -0.31: UBS Warburg draws investors attention to MSCC following the co's product announcement last week (introduced the first product in a new family of multiphase power mgmt controllers); channel checks reveal promising new design win potential that is capable of generating meaningful revenue with the holiday build in notebooks for Q4. MSCC is also showing early indications of successful positioning for the industry ramp of 802.11a that UBS believes will begin in the Sept qtr. Firm reiterates their Buy rating and $25 price target.
1:58PM NVIDIA: positive comments from Prudential (NVDA) 34.33 +0.69: Sources are telling us that Prudential is positive on NVDA after the co presented this morning at Pru's semi conference in London; reportedly, co said that there is no slowdown in Xbox shipments.
1:13PM Pixelworks (PXLW) 9.37 -0.33: Stock is down 40% YTD on lowered Q2 guidance (4/23) and cautious analyst commentary; today, shares slip another 3.5% following Pacific Growth Equities move to cut 2002 and 2003 sales ests to $106 and $126 mln, down from $107 and $131 mln. Firm believes PXLW is fully valued and reiterates their Neutral rating. Pacific Growth continues to forecast PXLW capturing 15% mkt share by the end of 2002 (below mgmt's stated goal of one-third mkt share); believes corporate projectors will be under pressure this year (as global IT spending has slowed) and anticipates virtually flat FY 2002 sales of $51 mln in projectors.
finance.yahoo.com^SOXX+^IXIC+^VIX&d=t
I agree that the speculation on handset sales can ultimately set up the group to outperform expectations. At this time AHAA, ANAD, RFMD and TQNT are certainly not going to benefit from sales growth if it is true short term.
Thanks for your insight. Your earlier post I am 100% in agreement on.
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