More tech stocks are set to benefit from Nvidia fallout, according to analysts

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More tech stocks are set to benefit from Nvidia fallout, according to analysts

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shared by Nvidia,” Lin wrote to clients. Citigroup analyst Laura Chen told clients to expect “strong momentum to continue” at Taiwan Semiconductor following Nvidia’s latest financial results. Taiwan Semiconductor’s U.S. shares have jumped 52% in 2024. The majority of analysts surveyed by FactSet have a buy rating, with the average price target suggesting shares can rise more than 3% over the coming year. Dell can now tout bullish AI projections on its earnings call at the end of this month, said Citi analyst Asiya Merchant. Dell, which announced an AI factory partnership with Nvidia this year,is also likely to demonstrate its “fortitude” in growing market share through full-stack offerings, the analyst said. “Overall we believe the diversity of end markets + broadening customer base that are deploying AI infrastructure support our positive view on DELL,” Merchant said. Dell’s share price has more than doubled in 2024. However, while most analysts have buy ratings, the typical price target reflects a potential pullback of more than 7%, according to FactSet data. Stifel analyst Tore Svanberg saw two key groups as winners exiting the Nvidia report: those with high exposure to data centers and those that are focused on the intersection of AI and automotives. For the former, he listed Astera Labs , Credo Technology , Marvell Technology , MACOM Technology Solutions and Monolithic Power Systems as likely winners given their high exposure. Maxlinear and Semtech are probably secondary beneficiaries, Svanberg said. On the auto side, the analyst pointed to NXP Semiconductors , ON Semiconductor , Ambarella and Texas Instruments as stocks that benefit. Analog Devices , Monolithic Power Systems and Microchip Technology can be secondary winners.

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Investment strategy,Stock markets,Earnings,NVIDIA Corp,Dell Technologies Inc,Super Micro Computer Inc,Taiwan Semiconductor Manufacturing Co Ltd,Astera Labs Inc,Credo Technology Group Holding Ltd,Marvell Technology Inc,MACOM Technology Solutions Holdings Inc,Monolithic Power Systems Inc,Maxlinear Inc,Semtech Corp,NXP Semiconductors NV,ON Semiconductor Corp,Ambarella Inc,Texas Instruments Inc,Analog Devices Inc,Microchip Technology Inc,business news
#tech #stocks #set #benefit #Nvidia #fallout #analysts

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