From Briefing.com: 7:56AM Semi equips off on Goldman cuts -- AMAT -5.5%, KLAC -5%, NVLS -4% :
:35AM Opening Indications: Naz futures slump on GS semi equip downgrade : This morning's fair value figures -- S&P 500 fair value: 1097, closed at fair value. Nasdaq 100 fair value: 1288, closed 1 pt above fair value. Currentindications: S&P 500 futures are -0.50, or 0.5 pts below fair value. Nasdaq 100 is -13.0, or 12 pts below fair value... Goldman Sachs downgrade of the Semi Equipment sector to Mkt Weight from Mkt Overweight and Sun Micro comments on linearity are weighing on the Nasdaq futures this morning.
7:34AM Prudential initiates coverage on Taiwan Semi, UMC : Prudential initiates coverage of TSM with a Buy rating and $23 price target; checks suggest there could be some wafer start forecast reductions from PC chipset and graphics customers while baseband chipsets for next generation handsets are seeing more traction. Initiates coverage of UMC with a BUY rating and $13 price target; checks indicate the June qtr could be quite strong, with revs up about 50% QoQ; strength is expected to come from wireless handsets and consumer applications (particularly DVDs).
7:27AM Goldman Sachs downgrades semi equipment stocks : Goldman Sachs downgrades the semi equipment sector to MKT WEIGHT from Mkt Overweight and lowers individual stock ratings; given near-term fundamental concerns and stock outperformance, firm would wait on the sidelines until a clearer end-demand picture emerges; believes a pause in order growth could occur as foundry customers digest the capacity additions that have accounted for much of the recent uptick in orders. Downgrades ACLS, AEIS, LRCX, and NVLS to MKT PERFORM from Mkt Outperform, and downgrades AMAT, ATMI, KLAC, and TER to MKT OUTPERFORM from Recommended List.
finance.yahoo.com^SOXX+^IXIC+^VIX&d=t
Looks like they are pushing us towards accumulation again. I would be a buyer of MU at 17. How about you Bob?
RtS |
