market - The technicals look good again. The SP500 is gaining steam.
GS looks like it finally wants to test around 102.5-104.
Part of the multiple contraction is justified due to the manufacturing issues. Another part was likely due to the lower US smart phone growth over the past few months. But the numbers in May stated to shift to a more positive out look.
factor in the improved manufacturing capabilities forecasted for the 28nm toward the end of the year?
IMO, the bigger risk is longer-term with INTC processors below 20nm. But for now, the threat is a company road map. Intel currently sucks at mobile, and any discussion with them is a "could be" scenario. (They are making progress, but QCOM and others are obviously not standing still.) Also, intuitively, the smaller the processor the better, but from an engineering perspective, their maybe a limit to the benefit.