Exact(4)
Blue chip sectors were again viewed as safer bets during a moderating economy and bearish market.
Technology stocks lost momentum for a second day amid weakness in the telecommunications and chip sectors, while bargain-hunting investors snapped up shares of AMR, the parent of American Airlines, after several analyst upgrades.
Technology stocks, especially in the Internet and chip sectors, are expected to continue to attract much of the markets attention today.
It is by far the most volatile and cyclical of chip sectors, and 2001 was the worst year in its history.
Similar(56)
"The whole chip sector is just on fire," Mr. Harrington said.
It sets them up to divest if the chip sector boom should turn white hot.
Strong smartphone sales drove revenue in the communications chip sector to $80 billion in 2010.
The broader market was mixed, with technology issues slipping on signs of further weakness in the chip sector.
Intel's earnings report came after a drop in shares on Monday after an analyst at Merrill Lynch became the latest to downgrade the chip sector.
The Semiconductor Industry Association on Wednesday cut its forecast for growth in global sales of semiconductors in 2008, citing lower prices because of competition in the memory chip sector.
Global semiconductor sales fell almost 10percentt in November, as the economic slowdown shook the chip sector, an industry trade group said Friday.
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