Semiconductor sector darlings results full steam ahead. Analysts see 15% share price growth for the sector
A bevy of semiconductor sector darlings report this week and are expected to pave out a longer runway of demand.
Advanced Micro Devices $Advanced Micro Devices(AMD.US$ and Qualcomm $Qualcomm(QCOM.US$ Inc are expected to show strong data center customer growth and demand for new chips used for artificial intelligence.
Qualcom could report sales above consensus as its Samsung partnership made up for weak iPhone sales in China. It quarterly sales and profit guidance might also be ahead of expectations amid increased demand for its IoT chips.
While Server maker Super Micro Computer $Super Micro Computer(SMCI.US$ the AI stock market darling earlier this year, is also due to report second-quarter results. Its guidance should top consensus thanks to strong demand for servers among AI developers
As at today, the average analysts still sees 15% share price growth in the average semiconductor company in the S&P500 with the most upside in Intel $Intel(INTC.US$, On $ON Semiconductor(ON.US$, Marvell $Marvell Technology(MRVL.US$ and AMD $Advanced Micro Devices(AMD.US$.
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