From Nasdaq: 2024-06-23 11:34:08

Artificial intelligence (AI) has become a hot commodity for investors with platforms like ChatGPT and Gemini driving mainstream adoption. AI market projected to reach $2.74 trillion by 2032. Semiconductors crucial for AI, with chips market set to hit $1.12 trillion by 2033. Bank of America raised target prices for top companies like Arm Holdings. Arm Holdings, creator of Arm architecture, saw revenue jump 47% and EPS climb. Stock up 113% YTD, aiming for 50% PC market share. Partnerships with big players like Microsoft and Amazon bolster Arm’s position in computing future. Arm stock rated “Moderate Buy” with potential upside of 12.3%.

Micron Technology, renowned semiconductor manufacturer, has thrived in the AI boom. Reported EPS of $0.42 in Q2 2024, a significant improvement from previous losses. Revenues increased by 57.7% from last year to $5.82 billion. Micron poised to capitalize on AI demand with cutting-edge memory solutions for servers, PCs, and smartphones. Analysts rate MU stock a “Strong Buy” with a high target price of $225, signaling a potential 61% upside. Micron continues to innovate with next-gen memory chips for gamers. Stock set to report Q3 earnings on June 26.



Read more at Nasdaq: 2 Top Semiconductor Stocks to Buy for More AI Upside