Stocks benefiting from the semiconductor boom: 3 analysts' favourites
In today's technology-driven age, semiconductors are a key part of everyday life - from mobile phones to complex artificial intelligence (AI) systems that are changing the face of industry. It is AI, which spans from automation to digital connectivity, that is significantly increasing the demand for these essential chips. According to analysts at Piper Sandler, semiconductor stocks are expected to experience growth in the coming quarters due to this trend, although growth in the analog and mobile segments is expected to be rather restrained. However, there is definite optimism in the AI space.
Analysts have selected three major players in the semiconductor market that they believe are poised for success: Advanced Micro Devices, Inc. (AMD), Microchip Technology Incorporated (MCHP) a ON Semiconductor Corporation (ON). These companies focus on various areas of the semiconductor market, from AI to analog applications, and show growth potential despite market challenges.