Frankly, a lot of semiconductor stocks are priced to perfection and in the absence of really positive news, the stocks are a little overdue for a pullback.
More Quotes from Eric Rothdeutsch:
The Street was expecting 4 billion, so on the capital spending front it was a disappointment.Eric Rothdeutsch
We've really come off a week or so of terrible performance in the Nasdaq. It's just really grasping at any hint of positive news to find a little bit of a rally.
Eric Rothdeutsch
They have been moving toward just-in-time style of production, so I'm sure that led to the shortfall.
Eric Rothdeutsch
A lot of the good news is already baked into the share price. We'd be on the sidelines and wouldn't put fresh money into Intel.
Eric Rothdeutsch
At that time, we look for DRAM pricing to stabilize. We believe that the company will meet or beat our fourth-quarter revenue and EPS estimates of 2.35 billion and 93 cents a share.
Eric Rothdeutsch
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