NVIDIA, Micron Tech, and other semiconductor stocks back in focus as KeyBanc raises expectations after chip checks
NVIDIA, Micron, and other semiconductor stocks have once again become the focus of the market. KeyBanc Capital Markets stated that the results of the semiconductor industry's supply chain inspection are mixed, with the simulation chip sector failing to maintain the growth in orders from the previous quarter. However, the recovery of the traditional server market is significant, and there is strong demand for generative artificial intelligence. KeyBanc has adjusted the target prices for several semiconductor companies, with NVIDIA raised to $180 and Micron raised to $165. In the smartphone sector, due to Apple's actions in the field of artificial intelligence and weak demand for Android devices, the production expectations for iPhone16 have improved
According to the Zhitong Finance and Economics APP, on Tuesday, KeyBanc Capital Markets stated that the recent semiconductor industry supply chain inspection results were "mixed", with several semiconductor stocks including NVIDIA (NVDA.US), AMD (AMD.US), and Micron (MU.US) becoming the focus of the market.
Analysts led by John Vinh wrote in the report that the analog chip sector failed to maintain the growth in order volume from the previous quarter, largely due to ongoing adjustments in the automotive sector. As a result, KeyBanc lowered its expectations for ON Semiconductor (ON.US) and reduced its target price to $85, while also lowering expectations for Lattice Semiconductor (LSCC.US).
On the other hand, the traditional server market has begun to see a "meaningful" recovery, and demand for generative artificial intelligence remains "strong". The company raised its expectations for NVIDIA and increased its target price to $180.
The company also raised the target prices for Micron, Marvell Technology (MRVL.US), and Monolithic Power Systems (MPWR.US) to $165, $95, and $975 respectively. Views on AMD varied in this semiconductor inspection, with the target price for the company being lowered to $220.
Lastly, KeyBanc analyzed the smartphone sector, pointing out that due to Apple's actions in the artificial intelligence field and weak demand for Android devices, production expectations for the iPhone 16 have improved. Therefore, the company raised its expectations and target price for Cirrus Logic (CRUS.US), a supplier of components to Apple. The company lowered its expectations for Qualcomm (QCOM.US) but raised the target price to $225