Citi Stays Bullish on Chips Despite Sell-off; Micron Remains Top Pick

Seeking AlphaAug 10 08:00 ET

Citi: Don't panic about the sharp decline in chip stocks, now is a good time to buy.

Citibank pointed out that although there has been a sharp decline in US chip stocks, this is mainly due to macroeconomic factors and high expectations. Semiconductors markets are still bullish, mainly because the demand for AI and storage markets remains strong. It is expected that DRAM prices will increase by 62% YoY in 2024, and Micron's performance guidance may be revised upward.

wallstreetcnAug 9 00:03 ET

Wall Street Rallies As Economic Concerns Recede, Tech Flexes Its Muscles, Semiconductors Soar: What's Driving Markets Thursday?

BenzingaAug 8 13:19 ET

Express News | Shares of Semiconductor and Chip Stocks Are Trading Higher Amid an Overall Market Rebound After Softer-than-expected Jobless Claims Possibly Alleviated Some US Economic Concerns

BenzingaAug 8 13:14 ET

Tech Stocks Rally After 5-Day Slump As Recession Panic Eases: Nasdaq 100 Movers To Watch Thursday

BenzingaAug 8 11:38 ET

What Are Wall Street Analysts' Target Price for Microchip Technology Stock?

BarchartAug 8 07:40 ET