was down 2.7% in preopen
analyst repeated his add rating and 12-month target of $54 on the chipmaker "in the face of negative investor sentiment" on all PC-related stocks.
Other chip stocks were also down as computer maker
sent shudders through the tech sector.
was down 6% after
Credit Suisse First Boston
cut its 2001 earnings estimate to $2.85 from $3.25.