As we approach the end of the year, chip stocks are in the spotlight as they gear up to report their quarterly earnings. Evercore ISI, a prominent investment research firm, has identified several key players in the semiconductor industry that investors should keep an eye on in the coming weeks.
One of the top picks from Evercore ISI is Nvidia, a leading artificial intelligence company that is set to report its earnings on November 20. Nvidia has been a standout performer in 2024, with its stock price soaring over 189% so far this year. In fact, investors surveyed by Evercore ISI have identified Nvidia as their favorite semiconductor play for the next 12 months.
Another stock on Evercore ISI’s radar is Broadcom, which is scheduled to release its fourth-quarter results on December 5. Broadcom has seen its shares climb nearly 61% in 2024, and the company recently exceeded analysts’ expectations on both the top and bottom lines. With a strong outlook of selling $12 billion worth of AI parts and semiconductors in 2024, Broadcom is poised for continued success in the industry.
In addition to Nvidia and Broadcom, Evercore ISI is also keeping a close watch on other semiconductor companies like Marvell Technology and AMD as they prepare to report their earnings in the coming weeks. The semiconductor industry has had a strong year, with the VanEck Semiconductor ETF (SMH) surging 43% in 2024, outpacing the broader market.
As investors look for opportunities in the tech sector, chip stocks remain an attractive option with their strong performance and growth potential. Keep an eye on these key players in the semiconductor industry as they gear up to report their quarterly earnings and provide insights into the future of the market. Stay tuned for more updates and analysis on the latest trends in the investing world from Extreme Investor Network.