Welcome to Extreme Investor Network, where we provide expert insights and unique information to help you make the most out of your investment decisions. Today, we are focusing on two key events that could potentially boost the semiconductor sector.
Nvidia, a leading chip giant, is gearing up for its annual shareholder meeting, while Micron Technology is set to release its fiscal third-quarter results. These events could serve as a much-needed catalyst for the troubled semiconductor stocks which have been facing a recent downturn.
Paul Meeks, portfolio manager and co-chief investment officer at Harvest Portfolio Management, highlighted the potential positive impact of these events on the sector. While Nvidia has seen a recent slowdown in its rally, with a slight dip from its all-time high, there is optimism surrounding CEO Jensen Huang’s commentary during the shareholder meeting. Any positive remarks about the company’s future outlook, particularly regarding artificial intelligence chips, could reignite investor interest in the stock.
On the other hand, Micron’s upcoming earnings report is also generating excitement among investors. Many analysts anticipate upward revisions in guidance from the memory chipmaker, especially with the growing demand for AI-fueled technologies. JPMorgan analyst Harlan Sur pointed out the significant growth potential in the memory market driven by AI applications, suggesting that any pullbacks in the stock could be attractive buying opportunities.
Citi analyst Christopher Danely raised his price target for Nvidia, citing expectations of stronger guidance and Micron’s increasing exposure to AI memory solutions. This positive outlook has led many investors, including Meeks, to view the recent sell-off in chip stocks as overdone. Meeks sees a long-term opportunity in the AI theme at a reasonable valuation and advises investors to consider adding Nvidia and Micron shares to their portfolio after the events unfold.
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