Ongoing cost reduction efforts should offset tepid top-line growth this year, but shares of this wide-moat chip leader remain overvalued.
Near-term headwinds persist, but our wide moat rating is unchanged.
The firm's on track with new technology transitions, and its shares remain undervalued.
Lowered fourth-quarter guidance won't impact our fair value estimate of this wide-moat tech leader, writes Morningstar’s Abhinav Davuluri.
The wide-moat semiconductor maker had a solid quarter, and shared an updated product roadmap that will have implications across its industry.
The firm’s move to lower its capital spending budget is a good sign that management is able to tactically adapt to challenging environments.