The 3 Most Undervalued Semiconductor Stocks to Buy in January
Semiconductor stocks really had a chance to heat up in 2023! But don't look for the trend to slow down as AI chip demand levels up in 2024.
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Semiconductor stocks really had a chance to heat up in 2023! But don't look for the trend to slow down as AI chip demand levels up in 2024.
"You talk about the stock tripling, look how much the earnings went up — the earnings went up, I don't know, six or seven times," Stacy Rasgon said.
Despite the rapid rise in stock price, Rasgon considers Nvidia's multiples to be highly attractive, making it one of the cheapest ways to invest in the AI theme in the space.
Nvidia Corp (NVDA) and Advanced Micro Devices, Inc (AMD) saw a boost in their stock prices as Taiwan Semiconductor Manufacturing Company Ltd (TSMC) exceeded expectations with its fourth-quarter results. TSMC reported $19.62 billion in revenue, beating consensus estimates, and expects strong growth in FY24. Analysts see both Nvidia and AMD as strong players in the AI market, with significant upside potential.
"You talk about the stock tripling, look how much the earnings went up — the earnings went up, I don't know, six or seven times," Stacy Rasgon said.