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What: Shares of Freescale Semiconductor
So what: This jump comes only a few weeks after Freescale plunged for far more substantial reasons -- lousy guidance. Goldman upgraded a basket of chip makers in addition to Freescale, with Applied Materials
Now what: Goldman now projects significant upside in the stocks it's upgraded, but Freescale's got a long way to go to be considered attractively valued relative to its profitable peers. It's been some time since Freescale posted a net profit, but it's inched ever so close in recent quarters. Goldman might be right, but since Freescale's latest guidance actually calls for a decrease in gross margins, that prediction may take a few quarters to pan out.
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