Benzinga
Published Apr 16, 2024 16:17
Updated Apr 16, 2024 17:40
Broadcom, Marvell, Analog Devices And More Semiconductor Stocks Poised For 6%-8% Revenue Growth: JPMorgan
Benzinga - by Surbhi Jain, .
JPMorgan analyst Harlan Sur shares an optimistic outlook for the semiconductor industry in anticipation of the Q1 earnings season.
The sector, including semiconductors, semiconductor capital equipment (semicap), and chip design software (EDA/IP), has continued to outperform broader indices YTD. The iShares Semiconductor ETF (NASDAQ:SOXX) is up 12.12%, as compared to the benchmark S&P 500 Index which is up 7.41% YTD.
The outperformance has been fueled by expectations of cyclical bottoming and positive earnings revisions.
Read Next: Ahead Of Chip Earnings, Analyst Turns More Bullish On Nvidia And These Semiconductor Stocks On Robust AI Demand
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