Wells Fargo’s Rakers likes these two semiconductor stocks

Best Incense Sticks Collections


Despite supply constraints, the S&P Semiconductors Select Industry Index is up more than 40% this year, and Wells Fargo still sees more upside in a few notable players in this space.

Highlights from Aaron Rakers’ interview on CNBC’s ‘TechCheck’

Interestingly, Wells Fargo’s Aaron Rakers likes two stocks in the semiconductor space, and both of them have already had a good run this year. His first pick is Advanced Micro Devices Inc (NASDAQ: AMD) that won Meta Platforms last night as a chip customer. On CNBC’s “TechCheck”, Rakers said:


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

As we saw yesterday, AMD is about this expansion of their data centre product portfolio and confidence that this company continues to be a solid market share taker in the data centre, the serve, CPU and GPU markets.

His outlook is consistent with the BofA Securities that rates the stock at “outperform” with a price target of $175 that represents an over 15% increase from here.

AMD continued its streak of market-beating quarterly results in October accompanied with a strong forecast for Q4. Shares are already up roughly 60% year-to-date.

What else does Rakers like in the semiconductor space?

The Wells Fargo analyst picked Nvidia Corp (NASDAQ: NVDA), which partnered with Luminar Technologies last night, as his other favourite in the semiconductor space. Rakers added:

Nvidia is much more of a deepening platform narrative. Their Omniverse Platform, the data centre strategy continues to deepen. Their ecosystem continues to broaden, 30 million downloads of their CUDA platform stack from a software perspective.

He expects Nvidia’s push into the autonomous vehicles space to be an even longer-term growth driver than its proximity to the metaverse.

Shares of the chipmaker are up more than 125% in 2021 and Ritholtz Wealth Management’s Josh Brown is convinced Nvidia could hit $1.0 trillion in market cap this decade.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,

eToro






10/10

67% of retail CFD accounts lose money



Source link

Daily 2 Daily News