Wow! Look!
Merrill, taking a new look at valuation in the chip group, said it cutting Intel, Analog Devices (ADI: news, chart, profile), Applied Micro Circuits (AMCC: news, chart, profile), Conexant (CNXT: news, chart, profile), PMC-Sierra (PMCS: news, chart, profile) and Vitesse Semiconductor to 'sells' from 'neutrals.'