Chip Stocks: Rolling with the Punches

After pulling back from big gains earlier in the year, Intel and Cypress Semiconductor shares look attractive, says S&P's Clyde Montevirgen

Semiconductor stocks have been dragged through the mud along with many other stocks in this stormy November marked by troubles in the financial sector, the weak U.S. dollar, and near-$100 oil. The good news is, the group is still ahead for the year, after falling behind in 2006. Year-to-date through Nov. 16, the Standard & Poor's Semiconductor index has risen 8.9%, outpacing the 2.9% increase for the S&P's 500-stock index. (Just a month ago, though, the semiconductor index's year-to-date gain was 17.3%.)

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