“Cypress Semiconductor Corp. (NASDAQ: CY) may be getting the chip sector off to yet another bad start for earnings season. The company said that business eroded in the final two weeks of December in its distribution channels. It also said that this was weakness from customers across all geographies and end markets, with purchases coming in slower than previously expected.
There does not appear to be any one smoking gun. That is why this is troubling for the chip sector as a whole. The company is trying to signal that orders have stabilized and that it believes the first quarter will be the bottom. Here is the quote…”
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