SK Hynix downgraded, ADI recommended; overall neutral news for the market.

From Investing.com: 2024-09-22 02:56:16

William Blair analysts have initiated coverage on Arm Holdings with an Outperform rating, citing growth drivers like higher ASPs and AI demand. They believe Arm’s stock has 35% upside potential and justified premium valuation. The firm also assigned an Outperform rating to Broadcom, noting growth opportunities in networking and software.

Morgan Stanley double-downgraded SK Hynix due to a cloudy outlook beyond Q4. While near-term earnings look strong, the firm sees risks in slowing growth and pricing. They lowered the stock’s price target by more than half. Citi named Analog Devices its top semiconductor pick, highlighting reduced risk in the automotive sector.

Wedbush analysts believe the AI revolution trade has gained momentum post-Fed rate cut, creating a bullish backdrop for tech and AI stocks. They expect significant AI capex and view Nvidia as a key player in the tech sector. Melius Research upgraded Oracle stock to Buy, citing strategic partnerships and growth potential for Oracle’s AI-first Cloud.



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