April 29, 2021
The global chip shortage continues to ravage many sectors, most notably automotive. However, traders are betting on producers AMD and Nvidia to see the largest gains. AMD has lagged the SMH Semiconductor ETF, but strong demand and a weak Intel are projecting it to eat a larger market share. Intel had a 20% decline in data center revenue, while AMD saw growth in chips. As Intel continues to shrink in the space, AMD pushes ahead in performance, innovation, and costs. Others are bullish on Nvidia. Nvidia has stalled since the chip shortage at around $600 per share, but traders are setting a $700 target price point.
(Portland)
FINSUM + Magnifi: The global chip shortage has scared off many investors, but that’s an opportunity to hold these hardware innovators. These stocks have another common factor: video games and graphics card demand will likely remain high with new computer gamers and crypto miners.
Other news today: Chinese Stocks are Big Winners Despite Delistings and JP Morgan Warns of Big Tech Correction
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