With corporate heavyweights investing millions of dollars in artificial intelligence (AI), semiconductor stocks have been in focus as the key beneficiaries of this trend.
Semiconductor companies are facing sluggishness in the industrial and auto end markets and communications infrastructure, while demand for AI infrastructure remains “extremely robust, led by strong capex outlooks from major U.S. hyperscalers,” according to KeyBanc Capital Markets.
The Semiconductor Off-Season Earnings: The three companies scheduled to report earnings this week are Nvidia Corp (NASDAQ: NVDA), Analog Devices, Inc. (NASDAQ: ADI) and indie Semiconductor Inc (NASDAQ: INDI).
The Semiconductor Analyst: John Vinh reiterated an Overweight rating on both Analog Devices and indie Semiconductor, while keeping the price targets unchanged at $220 and $12, respectively.
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