.September 17, 2024

3:45 PM

Analog Devices (NASDAQ:ADI) has been named Citi’s top pick in the U.S. semiconductor sector due to lower downside risk in the automotive sector. Broadcom and AMD hold second and third spots for AI-related investments, with concerns about potential margin pressures in their AI segments. Texas Instruments was upgraded to fourth place, expecting rising gross margins despite concerns over fourth-quarter 2024 guidance. Micron was downgraded to fifth, with lower consensus estimates expected in the near term. Microchip remains in last position among Citi’s Buy-rated semiconductor stocks, awaiting further growth catalysts.