Chip Bears Get Affirmation and Little Else From Earnings Season
- Companies including Intel, Samsung cautious on demand recovery
- Philadelphia semiconductor index still holding near record
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The rebound in semiconductor stocks has been built on hopes that demand for chips will recover later this year. Halfway through earnings season, chipmakers have said little to suggest that faith is warranted. And yet the rally is intact.
Companies from Texas Instruments Inc. to Intel Corp. have given cautious guidance about a potential recovery. Samsung Electronics was the latest to take a guarded stance. The world’s biggest maker of memory chips qualified its prediction that demand would improve in the second quarter by saying, “uncertainties in the external environment will persist.”