NVIDIA’s expected earnings growth rate for next year is 38.3%. NVIDIA’s GPU success can be attributed to its parallel processing capabilities supported by thousands of computing cores, necessary to run deep-learning algorithms. Over the years, NVDA’s focus has evolved from PC graphics to AI-based solutions that now support high-performance computing, gaming and virtual reality platforms. is the worldwide leader in visual computing technologies and inventor of the graphic processing unit (GPU). Below are four chip stocks that investors can gain from in the near term. Given the bright prospects, it would be wise to invest in semiconductor stocks. This trend is expected to further bolster the demand for semiconductors in the foreseeable future. The global adoption and growing utilization of consumer electronics, along with the expanding prevalence of artificial intelligence, the Internet of Things and machine learning technologies, are the key drivers of the increasing demand for semiconductors. Nevertheless, increased demand and supply-chain challenges caused by lockdowns led to a worldwide semiconductor shortage, disrupting various end-user industries such as automobiles, power, lighting and electronics. The increased demand for electronic goods and the rise of remote working and learning during the pandemic led to a significant surge in semiconductor sales. John Neuffer, SIA president and CEO, said, “Although global semiconductor sales in 2023 remain behind the totals from last year, revenue ticked up in June for the fourth consecutive month and notched solid quarter-over-quarter increases, providing optimism the market will continue to rebound over the second half of the year.” Semiconductor sales have now grown for four straight months. Sales are still down year over year but industry experts believe that the market will rebound in the near term as predicted earlier. Also, sales grew 1.7% month over month in June to $41.5 billion. Semiconductors Sales Bounce BackĪccording to the latest report from SIA, global semiconductor sales totaled $124.5 billion in the second quarter, up 4.7% from the first quarter. According to the Semiconductor Industry Association (SIA), sales improved in the second quarter and are poised to grow in the near term as demand remains high across multiple industries. However, the worst appears to be over as sales are finally rebounding, as projected by experts.Īfter taking a hit last year, semiconductor sales are steadily improving. The semiconductor industry that reached unprecedented heights following the COVID-19 outbreak in 2020 has been struggling for months. Here are highlights from Tuesday’s Analyst Blog: 4 Solid Semiconductor Stocks to Buy as Sales Rebound in Q2 LRCX, NXP Semiconductors NXPI and ON Semiconductor Corp. Stocks recently featured in the blog include: NVIDIA Corp. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Chicago, IL – Aug– announces the list of stocks featured in the Analyst Blog.
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