High-speed communications chipmaker Broadcom (BRCM) was down 9.8% in early afternoon after Morgan Stanley Dean Witter analyst Mark Edelstone lowered his revenue and earnings estimates.
Edelstone also cut estimates for six other semiconductor companies. Affected are:
, trading down 7.1%;
, down 6.8%;
, down 5.4%;
, down 10.3%;
, down 6.2%; and
, down 7%.
Edelstone in a note told investors that this economic downturn could be one of the worst in the 25-year history of the semiconductor industry.