Check Out These Semiconductor Stocks In The Stock Market Today
Over the past couple of years, semiconductor stocks have certainly made their presence felt in the stock market. However, the industry faced a number of curveballs such as lockdowns in key chipmaking cities in China and the Fed’s multiple interest rate hikes. Despite all this, semiconductor stocks remain relevant. This would be thanks to factors such as the growing adoption of 5G-enabled devices and the automotive industry’s shift towards electric vehicles (EVs). Moreover, there’s also the digitization of industries, which is further driving the demand for semiconductors.
With the future looking to grow increasingly reliant on semiconductors, investing in semiconductor stocks right now could be worthwhile for the long run. One of the companies that investors may be watching right now is Micron Technology (NASDAQ: MU). The company will be reporting its earnings after market close tomorrow. Analysts are expecting the semiconductor company to post a revenue of $8.7 billion, an increase of 16.8% year-over-year. Along with that, earnings are expected to be $2.46 per share, up by 30.9% from last year. All things considered, watch out for these five semiconductors stocks in the stock market today.
Semiconductor Stocks For Your July 2022 Watchlist
- Qualcomm Inc. (NASDAQ: QCOM)
- Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM)
- Texas Instruments Incorporated (NASDAQ: TXN)
- NVIDIA Corporation (NASDAQ: NVDA)
- Marvell Technology Inc. (NASDAQ: MRVL)
Qualcomm
Starting us off today is Qualcomm, a company that creates semiconductors, software, and services related to wireless technology. As a matter of fact, it is a global leader in developing and commercializing foundational technologies that are used in today’s wireless products. The company also licenses its intellectual property portfolio, which includes certain patent rights to manufacture and use certain wireless products.
Yesterday, prominent analyst Ming-Chi Kuo said that Apple (NASDAQ: AAPL) will likely be using Qualcomm’s 5G modems for its 2023 iPhones. At the moment, Apple relies on its own in-house modems for its iPhones. If this checks out, Qualcomm will remain the exclusive supplier for 5G chips of this year’s new iPhones, with a supply share of 100%. Prior to this, Qualcomm said that it was expecting to supply 20% of iPhone modems in 2023 as part of a bullish financial forecast. Given this development, will you be watching QCOM stock?
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Taiwan Semiconductor Manufacturing Company
Taiwan Semiconductor Manufacturing Company (TSM) is one of the largest semiconductor companies in the world. Put simply, TSM manufactures and sells integrated circuits and semiconductors. On top of that, the company also offers customer service, account management, and engineering services. In addition, TSM owns and operates the largest semiconductor design ecosystem globally, the Open Innovation Platform.
On June 17, executives from TSM said that the company is expecting to have the next version of ASML’s (NASDAQ: ASML) most advanced chip-making tool in 2024. The tool, called “high-NA EUV” produces beams of focused light that create the microscopic circuitry on chips used in phones, laptops, cars, and artificial intelligence devices such as smart speakers. For those unfamiliar, EUV stands for extreme ultraviolet, the wavelength of light used by ASML’s most advanced machines. TSM being able to get its hands on this tool in 2024 essentially means they get to the most advanced technology faster. As such, should you invest in TSM stock?
Texas Instruments
Another notable semiconductor name to consider would be Texas Instruments (TXN). In essence, the company designs and manufactures semiconductors and various integrated circuits. Specifically, TXN focuses on developing analog chips and embedded processors, which account for more than 80% of its revenue. It is also one of the biggest semiconductor companies in the world based on sales volume. Besides semiconductors, TXN produces its digital light processing technology and education technology products such as calculators and microcontrollers.
Last week, TXN announced the expansion of its connectivity portfolio with a new family of wireless microcontrollers. Impressively, these microcontrollers enable high-quality Bluetooth Low Energy at half the price of its competitors. “The adoption of Bluetooth LE is accelerating and our embedded world demo of the CC2340 family will show you how to quickly and easily add the technology to any application” said Marian Kost, Vice President and General Manager of Connectivity at Texas Instruments. “The new MCUs will provide high-quality RF and power at an affordable price, backed by unrivaled technical support and internal manufacturing capacity investments that will help meet our customers’ demand for years to come.” Given TXN’s competitive chips, should you buy TXN stock?
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NVIDIA
Following that, we have NVIDIA, a multinational tech company that sells its graphics processing unit (GPU) and tech services. In fact, it is a pioneer of GPUs and has essentially driven the growth of high-performance computing and artificial intelligence (AI). The company’s pioneering work in accelerated computing has also reshaped trillion-dollar industries like transportation and health care. Late last month, NVIDIA announced that a slew of the world’s leading computer makers is adopting its new NVIDIA Grace Superchips.
These Superchips will play an important role in creating the next generation of servers, turbocharging artificial intelligence (AI), and high-performance computing (HPC) workloads for the exascale era. Dell (NYSE: DELL) and Lenovo among others are planning to deploy servers built with the NVIDIA Grace CPU Superchip and NVIDIA Grace Hopper Superchip. As supercomputing enters the era of exascale AI, NVIDIA’s chip will allow its partners to tackle challenges that were previously out of reach. With that being said, will you be adding NVDA stock to your watchlist?
Marvell Technology
Marvell Technology is a semiconductor firm that primarily focuses on developing chips for the data infrastructure industry. Through Marvell’s cutting-edge chips, tech firms across the globe can move, store, process, and secure their data assets. Among Marvell’s core end markets are the enterprise, cloud, automotive, and carrier architecture industries. As tech firms continue to upscale their data processing infrastructure, MRVL stock could be worth looking out for.
Last month, the company reported its financial results for the first quarter of fiscal year 2023. For starters, Marvell brought in a net revenue of $1.45 billion, an increase of 74% year-over-year. That also exceeded the midpoint of the guidance the company provided in March. Marvell attributes this growth to higher-than-forecasted results from the data center end market. In the same report, Marvell provided its outlook for the second quarter. Namely, it expects revenue at the midpoint to grow by 5% sequentially and 41% year-over-year. All in all, given the strong quarter, is MRVL stock one to add to the portfolio?
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