The 2 Best Semiconductor Stocks to Buy Right Now – 7/1

With the artificial intelligence boom showing no signs of cooling, buy semiconductor stocks.

For one, according to Precedence Research, the global semiconductor market could be worth about $1.137 trillion by 2033. That’s up from $544.78 billion in 2023. Two, until the AI boom cools – which won’t happen soon – semiconductor demand will only rise. 

Fueling even more upside Apple just introduced a bunch of AI projects including an upgrade to its voice assistant Siri, integration with Open AI’s Chat GPT, and new writing assistance tools.

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Again, with AI showing no signs of cooling, jump into semiconductor stocks such as:

Company: Nvidia (SYM: NVDA)

Trading at just $124 following a 10:1 split, it’s a steal

Helping, analysts at Susquehanna say NVDA could test $160 a share. Rosenblatt analysts say NVDA could rally to $200 with a buy rating. All thanks to strong demand for its AI chips.

Plus, earnings have been strong. In its most recent quarter, NVDA’s first quarter revenue jumped 262% year over year to $26.04 billion. Adjusted earnings per share jumped 461% to $6.12, soaring above estimates for $5.50. Even adjusted gross margins of 78.9% were above expectations of 77.2%. Guidance was expectedly strong.

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Company: Advanced Micro Devices (SYM: AMD)

Advanced Micro Devices is another one of the hottest semiconductor stocks to buy. 

While the stock is struggling at the moment, I’d use the weakness as an opportunity to buy. 

Helping, analysts at Citi say AMD could take about 10% of the data center graphics processing units (GPU) market. “We believe AMD is using an annual product cadence to keep pace with Nvidia, and we still expect AMD to get 10% share of the data center GPU market or roughly $15.0 billion,” Citi noted.

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