FBR Says Tablet Production Being Cut

In a note discussing Qualcomm QCOM this morning, FBR says that tablet production may be cut. FBR Capital's semiconductor analyst Craig Berger wrote in a note, “We note that the “tablet bubble” burst somewhat after Mobile World Congress in mid February given excessive investor expectations, and as sell-through of early devices has thus far been lackluster." “Somewhat weak sell-through of non-iPad tablets is now showing up in production schedules, according to our contacts,” adds Berger. Berger said that the Research in Motion RIMM will produce 3 million PlayBooks, as opposed to 7 million, and Motorola Mobility MMI will produce 3.2 mllion Xooms, down from 5 million. He also cut his unit production for Apple AAPL, saying the company may build 31.9 million iPad's this year, down from 37.5 million. Barron's has the full details on the note.