Can Chips Shake Off the Blues?

As the group starts to recover, S&P's Tom Smith favors Texas Instruments and Microchip Technology, as well as segments outside the PC arena

It has been an ugly year for many semiconductor stocks. Heavyweight Intel (INTC) has been hovering near a 52-week low since July, when the chipmaker reported a jump in inventories and lower average selling prices and cut its forecast for the second half of the year. Meanwhile, other chip companies have been dogged by questionable options practices.

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