From Nasdaq:

Cantor Fitzgerald’s report on the semiconductor industry projects an average 14% upside for 2024 in the 18 stocks under their coverage. Their top picks include NVIDIA Corp, Western Digital Corp, ASML Holding NV, NXP Semiconductors NV, and GlobalFoundries Inc, with projected upside ranging from 21% to 36% in 2024.

Other semiconductor companies are also projected to have at least 15% upside for 2024, while three are rated Neutral and expected to underperform – Qualcomm Inc, Teradyne Inc, and Intel Corp.

The semiconductor industry is experiencing a cyclical recovery, with core fundamentals signaling a major upward shift in the second quarter of 2023. This recovery has unique factors contributing to increased volatility across different end markets, with varying lead times, inventory builds, and supply/demand dynamics.

Cantor analyst C.J. Muse predicts an 18% growth in semiconductor revenues for 2024, noting that certain risks could drive this figure above 20%. Key areas of interest could include AI and Memory, with selectivity in System-on-Chip companies expected to contribute to another strong year for semiconductor stocks in 2024.

**Note:** The summary excludes promotional content and does not reflect the views and opinions of Nasdaq, Inc.



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