From Nasdaq: 2024-04-18 10:03:00

The first quarter of 2024 saw growth in the technology sector driven by AI and machine learning adoption. Global conflicts impacted growth, with Sino-U.S. tensions and U.S. restrictions on high-tech exports to China hurting sector giants like Intel and AMD. Despite challenges, digitalization, cloud computing, and 5G adoption continue to support the sector.

Semiconductor sales in February were at $46.2 billion, up 16.3% year over year, according to the Semiconductor Industry Association. In the PC segment, 59.8 million PCs were shipped in the first quarter, with Lenovo and HP seeing growth. Several tech companies are set to report earnings results, with a focus on stocks showing potential to beat estimates.

Top tech stocks like Vertiv, Meta Platforms, Cadence Design Systems, Itron, and Silicon Motion Technology are expected to perform well in the upcoming earnings cycle with positive earnings ESP and favorable Zacks Ranks. These companies have the right elements to potentially surprise with their next earnings announcements, according to our methodology. Global semiconductor manufacturing is projected to grow significantly, offering investment opportunities in the sector.



Read more at Nasdaq:: 5 Technology Stocks Poised to Beat Earnings Estimates in Q1