NVDA - Nvidia Applied Materials stocks among gainers as semiconductors rally

The Philadelphia Semiconductor Index is up 2.5%, outperforming the broader tech sector's (XLK) nearly 2% gain.Lead semi gainers include Analog Devices and peer Monolithic Power Systems ([[MPWR]] +4.2%) after the former was upgraded upgraded at Bernstein this morning on the "imminent" Maxim Integrated Products deal. Nvidia ([[NVDA]] +3.8%) is climbing after KeyBanc started the company with an Overweight rating and $700 price target, viewing "AI in the data center and at the edge as one of the most complex computing challenges and hence one of the highest value add opportunities today" with Nvidia "uniquely positioned ot monetize."Semi equipment stocks Applied Materials ([[AMAT]] +3.5%), Lam Research ([[LRCX]] +3.9%), and KLA ([[KLAC]] +3.0%). Applied Materials is set to report second quarter results after the bell today. Consensus estimates expect adjusted EPS of $1.51, revenue of $5.4B, and adjusted gross margin of 47%.

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Nvidia, Applied Materials stocks among gainers as semiconductors rally