Meguiar expects revenue to reach $7.9 billion to $8.3 billion in the first quarter of fiscal 2009, compared with $8.45 billion widely expected by Wall Street analysts.
Last week, JP Morgan saidIntelThe chip shortage problem is deteriorating, and the impact on the fourth quarter PC sales will reach 7%. Analysts worry that IntelprocessorThe negative impact of the shortage may last more than a quarter. Intel says it has a problem with capacity because of delays in turning to next-generation 10-nanometer manufacturing technology.
On Thursday, Meguiar Technologies said on a earnings call that the negative impact of processor shortages could continue beyond the first quarter.
Nomura Instinet cut its target share price of Metro Technologies from $100 to $65 because of concerns about the memory chip cycle.
Shaha reiterated his "buy" rating for Meguiar's stock because he favored Meguiar's stock repurchase plan and its attractive valuation.
Morgan Stanley reiterated its assessment that Metro Technologies shares were "on par with the broader market" and said Intel processor shortages could pose even greater problems for Metro Technologies.
Moore lowered its target price from US $65 to US $48. Shares of micron technology have been under pressure this month due to concerns about slowing demand for memory chips. As of Thursday local time, the company's stock price fell 12% in the same month.
Earlier this month, executives at Morgan Stanley and KLA-Tencor said the memory chip market was deteriorating, leading to a sharp drop in semiconductor prices.