NXPI - CES 2023 Sparks Analyst Optimism: Nvidia Leads with AI Innovation Market on Positive Trend | Benzinga
At CES this week, Truist analyst William Stein hosted investor meetings with Nvidia Corp (NASDAQ:NVDA), Intel Corp (NASDAQ:INTC), ON Semiconductor Corp (NASDAQ:ON), and Analog Devices, Inc (NASDAQ:ADI).
While each company has unique growth opportunities and challenges, the tone of meetings was a bit more optimistic than Stein or investors might have guessed, especially considering recent negative updates from Microchip Technology Inc (NASDAQ:MCHP) and Mobileye Global Inc (NASDAQ:MBLY).
The analyst noted this reflects the out-of-phase conditions of the semi-market today, with revenue performance by the company, end market, and product type all running in different directions.
He retained his constructive view on semiconductors, and his favorite names remain Buy-rated NVDA, NXP Semiconductors N.V. (NASDAQ:NXPI), Belden Inc (NYSE:BDC), and TTM Technologies, Inc (NASDAQ:TTMI).
Also Read: Nvidia Leads AI Chip Rivalry with New GPUs, While AMD and Intel Bet Big on AI PCs
The overarching theme of this year’s CES event was ...