J.P. Morgan Downgrades Chipmakers to 'Market Perform'

Analyst Eric Chen thinks fundamentals for key companies could deteriorate as revenues decline

JP Morgan downgraded Altera (ALTR ) Applied Micro Circuits (AMCC ), PMC Sierra (PMCS ), Vitesse Semiconductor (VTSS ), Xilinx (XLNX ) to market perform from long-term buy.

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