Advanced Micro Devices (AMD)
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Advanced Micro Devices (AMD) is well-positioned to challenge its competitors and make a name in the AI chip race in 2024, following the announcement of its MI300x GPU chipset. This move represents a significant step for the chipmaker and could potentially set the stage for a super cycle rally later in 2024.
ON Semiconductor (ON)
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ON Semiconductor (ON) has recently shifted its focus to developing power-efficient semiconductor solutions for electric vehicle (EV) and smart connectivity devices. Although the chip manufacturer experienced sluggish quarterly revenue growth in 2023, the impending end of the “chip glut” and the potential boom in the electric vehicle segment could position the company for growth in the coming years.
ACM Research (ACMR)
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ACM Research (ACMR) is a leading supplier of wet processing equipment and technologies for the semiconductor industry. With impressive quarterly financial results in 2023 and a strong start in 2024, ACM Research is poised for long-term success among semiconductor stocks, backed by an inexpensive valuation and growing customer base.
On the date of publication, Tyrik Torres did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Tyrik Torres has been studying and participating in financial markets since he was in college, and he has a particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.
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