Semiconductor stocks like ASML, Broadcom, and Micron are strong growth plays for investors.

From Nasdaq: 2024-07-20 04:10:00

Many semiconductor stocks have rallied due to AI market growth, but some investors may be wary of high valuations. However, market leaders like ASML, Broadcom, and Micron are still strong growth plays for investors. ASML is the top lithography system producer with consistent revenue and EPS growth.

Broadcom produces a variety of chips and software, expecting a fifth of revenue from AI-oriented chips in 2024. Analysts predict 23% growth in both revenue and adjusted EBITDA from fiscal 2023 to 2026. Micron, a key player in memory chips, saw a slowdown but expects revenue to grow at a CAGR of 42% till 2026 with a strong EPS growth rate.

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