Semiconductor makers are expected to beat Wall Street's earnings estimates in the first quarter and offer rosy guidance for the second quarter, according to a JPMorgan Securities analyst, prompting the firm to increase its numbers on several chip developers.
JPMorgan Securities analyst Christopher Danely said in a research note Monday that almost every semiconductor company he covers, including Intel (INTC Quote), Texas Instruments (TXN Quote) and Advanced Micro Devices (AMD Quote), should see higher-than-consensus results in the first quarter due to inventory restocking he has been expecting.
As a result, Danely raised his full-year estimates for 2009 and 2010 on Intel, which is reporting its results Tuesday, Texas Instruments, AMD, Linear Technology (LLTC Quote), Xilinx (XLNX Quote) and Altera (ALTR Quote).
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