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Robertson Stephens sees seasonally slow demand for Intel 's(INTC
) motherboards and PC components.
Analyst Eric Rothdeutsch says recent checks with motherboard makers in Asia indicate that demand is exhibiting seasonal weakness. He expects May shipments to be down 10%-15% month over month. He also expects the June quarter to be the seasonally slowest quarter for the PC industry this year. Checks indicate that Advanced Micro Devices (AMD
) and Intel will again cut CPU prices. New chipsets, motherboards, new packages, new processes, and new wafer sizes appears to be a lot of challenges for any company to manage.
Rothdeutsch rates Intel long-term attractive. He rates Applied Micro buy and thinks Advanced Micro offers a better execution story at a more reasonable valuation.