Stay away from battered semiconductor stocks for the time being, according to Citi analyst Chris Danely.
“We believe negative catalysts will now outnumber positive catalysts given upcoming PC data points and monthly Taiwan sales figures,” Danely wrote in a fresh note to clients. “We also expect negative data points in September in broader semis as the correction continues.”
The analyst removed his short-term bullish calls on chip makers NXP Semiconductor and ON Semiconductor. His top pick…
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