Canaccord Genuity on Technology/Hardware: PC Supply Chain Checks Positive, Despite Delay in Ivy Bridge
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity on Technology/Hardware: PC Supply Chain Checks Positive, Despite Delay in Ivy Bridge
Analyst, Bobby Burleson, said, "Checks this week show continued health for the PC supply chain, with negligible impact from the delay of Intel's (Nasdaq: INTC) Ivy Bridge launch. Motherboard makers and notebook ODMs are likely to deliver upside to normal Q1 seasonality, and expect an in-line to moderately better-than-seasonal Q2. We view healthy PC trends as a necessary element of any recovery for semiconductor demand in 2012, and we remain constructive on the group as a whole. Our favorite names for playing the recovery are Analog Devices (NYSE: ADI) on increasing dividend and attractive valuation, Fairchild Semi (NYSE: FCS) on potential for sharp increase in distributor demand, and Integrated Devices Tech for ramping new products. We also like Broadcom (Nasdaq: BRCM) on smartphones and Apple (Nasdaq: AAPL) exposure and Marvell (Nasdaq: MRVL) for recovering HDDs and TDSCDMA growth. While we expect Intel, Nvidia (Nasdaq: NVDA), AMD (NYSE: AMD) and Intersil (Nasdaq: ISIL) to benefit from positive near-term trends in PCs, Nvidia could be challenged by disappointing progress for Tegra demand."
Canaccord Genuity maintains a 'Buy' on AMD, ADI, BRCM, FCS, ISIL, MRVL and Integrated Device (Nasdaq: IDTI).
Maintains a 'Hold' on INTC and NVDA.
Analyst, Bobby Burleson, said, "Checks this week show continued health for the PC supply chain, with negligible impact from the delay of Intel's (Nasdaq: INTC) Ivy Bridge launch. Motherboard makers and notebook ODMs are likely to deliver upside to normal Q1 seasonality, and expect an in-line to moderately better-than-seasonal Q2. We view healthy PC trends as a necessary element of any recovery for semiconductor demand in 2012, and we remain constructive on the group as a whole. Our favorite names for playing the recovery are Analog Devices (NYSE: ADI) on increasing dividend and attractive valuation, Fairchild Semi (NYSE: FCS) on potential for sharp increase in distributor demand, and Integrated Devices Tech for ramping new products. We also like Broadcom (Nasdaq: BRCM) on smartphones and Apple (Nasdaq: AAPL) exposure and Marvell (Nasdaq: MRVL) for recovering HDDs and TDSCDMA growth. While we expect Intel, Nvidia (Nasdaq: NVDA), AMD (NYSE: AMD) and Intersil (Nasdaq: ISIL) to benefit from positive near-term trends in PCs, Nvidia could be challenged by disappointing progress for Tegra demand."
Canaccord Genuity maintains a 'Buy' on AMD, ADI, BRCM, FCS, ISIL, MRVL and Integrated Device (Nasdaq: IDTI).
Maintains a 'Hold' on INTC and NVDA.
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