Time to Take Profits in Chip Stocks?
You might want to take some money off the table in chip stocks. That’s the advice this morning from American Technology Research analyst Doug Freedman.
He notes that of the 19 companies he follows, 14 have posted gains of 5% to 25% since he upgraded the sector on April 4. (Just two of those stocks–Qimonda (QI) and Omnivision (OVTI)–have declined in the subsequent weeks.) And now, he says, they are due for a four- to six-week pause.