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Cypress Semi Climbs After Barclays Gets Bullish On Iphone Opportunity

The shares of Cypress Semiconductors (CY) are rallying today after Barclays upgraded the stock to Overweight from Neutral, citing the belief the company's USB-C chips will be included in Apple's (AAPL) iPhone 8. The upgrade comes after research firm Craig-Hallum recommended buying the stock on weakness based on its belief that the company's revenue from Nintendo's (NTDOY) Switch console will increase by $20M this quarter.

UP TO BUY: Barclays analyst Blayne Curtis estimated that Cypress would obtain $1.25 in revenue...