Chip-Equipment Stocks: Steer Clear
While scrolling through my relative strength charts, looking for emerging buying opportunities, I noticed that both the S&P Semiconductor and Semiconductor Equipment subindustry indexes had staged recent relative-strength rallies, only to fizzle out after touching their nine-month moving averages. I chose to highlight the equipment manufacturers in this report, since our analyst's fundamental outlook for the group is also negative, while the outlook for the chip companies is neutral.
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