The semiconductor sector is a very important part of the technology industry. Semiconductors are tiny electronic devices made from materials like silicon, and they’re used in all kinds of electronic products, such as smartphones, computers, and even cars. These little devices help control the flow of electricity in our gadgets, making them work properly.
Companies that make semiconductors or the machines used to create them are part of the semiconductor sector. People who invest in semiconductor stocks hope that these companies will make money as technology continues to advance and the demand for electronic products grows.
Semiconductor stocks are shares of companies that are involved in the design, manufacturing, or sale of semiconductors. These stocks can be a great option for people who want to invest in the technology industry since semiconductors are so important for all kinds of electronic devices. Just remember that, like any investment, there can be risks involved, so it’s important to do your research and make smart decisions about where to put your money. With this being said, here are three semiconductor stocks to watch in the stock market this month.
Semiconductor Stocks To Buy [Or Avoid] Right Now
- Advanced Micro Devices Inc. (NASDAQ: AMD)
- Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM)
- QUALCOMM Incorporated (NASDAQ: QCOM)
Advanced Micro Devices (AMD Stock)
To start, Advanced Micro Devices Inc. (AMD) is a semiconductor company known for producing high-quality computer processors and graphics cards. AMD’s products are commonly used in personal computers, gaming consoles, and data centers. They are well-regarded for their performance and often compete directly with Intel, another major player in the processor market.
Earlier in May, AMD reported its 1st quarter 2023 earnings results. Diving in, the company posted earnings of $0.57 per share, along with revenue of $5.4 billion. This is in comparison with analysts’ consensus estimates for the quarter, which was earnings of $0.56 per share with revenue of $5.3 billion. In addition, AMD also reported that it estimates second quarter 2023 revenue between $5.00 to $5.60 billion.
Over the past five trading days, shares of AMD stock have jumped by 13.75%. Additionally, on Tuesday afternoon AMD stock is trading at $94.91 a share.
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Taiwan Semiconductor Manufacturing Co. (TSM Stock)
Next, Taiwan Semiconductor Manufacturing Company Ltd. (TSM) is the world’s largest independent semiconductor foundry. Meaning they manufacture semiconductors for other companies that design them. TSMC works with many big-name tech firms and is known for its advanced manufacturing processes.
Last month, TSMC announced new technology developments at the 2023 North America Technology Symposium. Specifically, TSMC unveiled its latest advancements, including progress in 2nm technology and new additions to its leading 3nm technology family. The new processes are designed to cater to various customer needs, such as N3P, an improved 3nm process for better power, performance, and density; N3X, specifically developed for high-performance computing applications; and N3AE, which allows automotive applications to start early on the most cutting-edge silicon technology.
In the last five days of trading, TSM stock increased by 2.43%. Meanwhile, on Tuesday afternoon, shares of TSM stock are trading at $84.67 a share.
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Qualcomm (QCOM Stock)
Finally, QUALCOMM Incorporated (QCOM) is a leading semiconductor company that specializes in wireless communication technologies. They are known for designing and producing chips and components that are used in smartphones, tablets, and other devices. QUALCOMM’s technology is essential for enabling advanced features like 5G connectivity and has helped shape the development of modern mobile devices.
This month, Qualcomm announced its second quarter 2023 financial and operating results. In detail, Qualcomm reported Q2 2023 earnings of $2.01 per share, on revenue of $9.3 billion. This was versus Wall Street’s estimates which were earnings per share of $2.15 and revenue estimates of $9.1 billion. Moreover, the company also said it projects third-quarter 2023 non-GAAP earnings of $1.70 to $1.90 per share and revenue of $8.10 billion to $8.90 billion.
Over the last five trading days, shares of QCOM stock are trading lower by 9.09%. While, during Tuesday’s afternoon trading session, QCOM stock is trading at $106.16 a share.
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