Semiconductor industry experiencing strong rebound with NVIDIA, Taiwan Semiconductor, Micron Technology, and RF Industries recommended.

From Nasdaq: 2024-07-08 08:33:00

The global semiconductor industry is experiencing a strong rebound due to growing demand and optimism around artificial intelligence. Inflationary pressures have eased, with global semiconductor sales totaling $49.1 billion in May, up 19.3% year over year and 4.1% from April.

NVIDIA is a key player in the semiconductor industry, with shares up 154.1% year to date. The company’s rally is driven by its graphics processing units and the increasing demand for AI chipsets. Taiwan Semiconductor, Micron Technology, and RF Industries are also recommended investment options.

NVIDIA, with an expected earnings growth rate of 106.2%, is a Zacks Rank #1 stock. Taiwan Semiconductor has an expected earnings growth rate of 18.3% and is a Zacks Rank #2 stock. Micron Technology is projected to have an earnings growth rate of 126.1% and is a Zacks Rank #2 stock. RF Industries has a predicted earnings growth rate of 150% and is also a Zacks Rank #2 stock.

Zacks experts have identified a little-known chemical company with strong potential for significant growth. With rising demand, soaring earnings estimates, and a focus on repurchasing shares, this company could offer explosive upside. This stock could rival recent successes like Boston Beer and NVIDIA.



Read more at Nasdaq: 4 Must-Buy Semiconductor Stocks as Sales See Solid Rebound