Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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From: etchmeister	8/13/2010 2:09:00 PM
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NVDA upgrade - I think it's a joke but that's how it works - obviously the stock underperformed for several reasons. AMD is kicking NVDA's ass in discrete graphics and integrated graphics continues to make in roads - oh yeah since they can not compete with AMD they will compete with Intel's Atom - by that time Intel will probably start manufacturing on 450 mm wafers - on pilot line Morgan Stanley analyst Mark Lipacis this morning raised his rating on the shares to Equal Weight from Underweight. “After underperforming the SOX by 4,300 basis points year-to-date, and with the stock now at our $9 base case, we think our concerns about its declining chipset business, slower mobile GPU growth and share loss to AMD…are largely baked into the stock,” he writes in a research note. Lipacis adds that consensus FY 2012 EPS estimates have been cut by 38%, which should complete the downward estimate revision cycle. “Nvidia still has challenges, but we think most of the negative news is now in the market and stock,” he writes.

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