TI Joins the Guidance Cut Parade
Last week, when National Semiconductor (NSM), Xilinx (XLNX) and Broadcom (BRCM - Annual Report) all reduced their outlook, we noted the wireless industry connection between the companies and asked “Who’s next?” It turns out we didn’t have to wait long to find out. TI cuts fourth-quarter financial outlook | Reuters.com
The company, which makes everything from calculators to chips for flat-screen televisions, said it now expects earnings from continuing operations of 37 cents to 40 cents a share compared with its earlier target of 40 cents to 46 cents.It said it now expects revenue of $3.35 billion to $3.5 billion for the quarter. In October it had forecast fourth-quarter revenue of $3.46 billion to $3.75 billion.
When we commented on the misses last week, a commenter asked “which stocks will go up/down.. any ideas?”
So, in case the wireless link wasn’t enough we hereby list a few wireless supply chain companies with a forward P/E ratio of 20 or higher:
Powerwave (PWAV) (35)
Research in Motion (RIMM) (29)
Silicon Laboratories SLAB (27)
Cree (CREE) (26)
You’ll have to do your own research to determine whether any of these are worth acting on, but it should provide a good starting point. If you can think of any others, feel free to add them in the comment section.
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