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Chips Fall Where They May, the Stocks Are Still Up

Stock quotes in this article: TXN , NSM , ALTR , BRCM , IDTI , NVLS , SMH , INTC  

SAN FRANCISCO -- What's a chip investor to make of the latest barrage of bad news only working to extend the rally in semiconductors for a third straight session?

To call the recent string of announcements "bad" is an understatement:

  • Texas Instruments(TXN Quote) tore down its estimates for fourth-quarter results late Monday, offering a revenue midpoint that was 30% below third-quarter results.

  • Similarly, National Semiconductor(NSM Quote) said its fiscal third-quarter revenue would fall 30% sequentially, well below the Street's consensus analyst estimate.

  • ...

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