Ray, a chip recipe from Barron's:
<TUESDAY, APRIL 12, 2005 2:59 p.m. EDT
INVESTORS' SOAPBOX PM |
Chip Stocks Set for Strong Second Half
JMP Securities
600 Montgomery St., Suite 1100
San Francisco, CA 94111
(Tel) (415) 835-3970
APRIL 12 – We continue to have a positive industry outlook for the semiconductor sector based on our expectations for stable corporate information technology spending on personal computers, servers and networking gear.
We also expect a robust semiconductor market for cell phones and digital home electronics.
For our JMP semiconductor universe of 14 companies, we expect mostly in-line first quarter results and conservative second quarter guidance. We expect normal PC, cell phone, and consumer semiconductor industry seasonality and choppy macro-economic conditions.
We anticipate a stronger second half of 2005 following normal seasonal trends for PC, cell phone and consumer related semiconductor demand.
Positive factors contributing to growth in the second half of 2005 will likely include continuing global corporate information technology spending growth, and a personal computer and server upgrade.>
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