3 Semiconductor Stocks to Buy ASAP – 9/29

Semiconductor stocks are just starting to show big signs of life again.

Company: Micron (SYM: MU)

Just look at Micron (SYM: MU), for example.

After plummeting to $85, the stock just exploded to $109.88. All thanks to strong earnings and guidance. For its fourth quarter, the company’s EPS of $1.18 beat by seven cents. Revenue of $7.75 billion, up 93.3% year over year, beat by $100 million. 

“Looking ahead, Micron expects revenue for the first-quarter to be between $8.5B and $8.9B, with the midpoint of $8.7B above the $8.32B estimate. The company also said it expects to earn between $1.66 and $1.82 per share on an adjusted basis, with the midpoint of $1.74 above the $1.52 consensus estimate,” as noted by Seeking Alpha.

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Company: Arm Holdings (SYM: ARM)

After finding support at $96.66, Arm Holdings is now back to $149.16. From here, we’d like to see it retest $172 near term. Helping, analysts at Raymond James just initiated coverage of the ARM stock with an outperform rating with a $160 price target.

“The analysts said that Arm, as the dominant supplier of energy-efficient processor/subsystems IP, the company is well-positioned to benefit from rapid growth of generative Al in the cloud and at the edge,” as reported by Seeking Alpha.

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Company: Advanced Micro Devices (SYM: AMD)

Advanced Micro Devices bottomed out at $132.11 and is now back to $167.49. From here, we’d like to see it retest $187 again near term. 

Plus, analysts at Edward Jones just initiated a buy rating on the AMD stock, adding it to their Stock Focus List.  Also, as noted by TheFly.com:

“The company should deliver ‘outsized growth’ as growing demand for datacenter infrastructure should help drive accelerating sales of its chips, the analyst tells investors in a research note. The firm says that while the acquisition of Xilinx adds new programmable chip products and end-markets to AMD’s business, the company remains in the early innings of cross-selling and integrating Xilinx and AMD products. Edward Jones believes its optimism is not fully reflected in the share price.”

Also, as noted by New Street Research, Artificial intelligence infrastructure shows no signs of slowing down any time soon as higher spend on computing power leads to better performing models.” All of which is great news for stocks like AMD.

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Wall St. Icon: Looming Financial Tsunami Could Wipe Out the 1%

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Wall Street icon who forecasted Black Monday and dot-com crash says a new economic event could hit the American economy like a tsunami. It doesn’t matter if you’re blue collar, white collar, working, or retired. He says, “I am literally afraid for my family’s future. I’m taking drastic steps to prepare for what I know will inevitably happen next.”

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