AEVA - Top 10 best performing chip stocks of 2024 including NVDA AMD and MRVL
2024-01-18 13:45:47 ET
Artificial intelligence was a key talking point in 2023 and many investors look for that trend to continue into 2024. Semiconductors play a pivotal piece in the AI sphere, as they a critical component for the growing technology.
While the broader market averages are treading water for the most part in early 2024, many chip stocks have continued their strength from 2023. Outlined below are the 10 top performing semiconductor stocks so far in 2024:
No. 10: Meta Materials Inc ( MMAT ) +12.6% YTD.
No. 9: Advanced Micro Devices ( NASDAQ: AMD ) +13.4% YTD.
No. 8: Orion Energy Systems ( OESX ) +15% YTD.
No. 7: Marvell Technology ( NASDAQ: MRVL ) +15.7% YTD.
No. 6: NVIDIA Corporation ( NASDAQ: NVDA ) +16.9% YTD.
No. 5: SMART Global Holdings ( SGH ) +18.8% YTD.
No. 4: Aeva Technologies, Inc. ( AEVA ) +19.7% YTD.
No. 3: WISeKey International Holding AG ( WKEY ) +30.1% YTD.
No. 2: Transphorm, Inc. ( TGAN ) +33.5% YTD.
No. 1: SEALSQ Corp ( LAES ) +87.6% YTD.
Furthermore, just missing the top 10 list was the popular Taiwan Semiconductor Manufacturing Company ( NYSE: TSM ) which is +8.8% in 2024.
For investors that want to diversify their risk and portfolio within the semiconductor market, they can shift their attention to chip focused exchange traded funds. Some popular ETFs to further analyze are the VanEck Semiconductor ETF ( SMH ), iShares Semiconductor ETF ( SOXX ), SPDR S&P Semiconductor ETF ( XSD ), and the Invesco Semiconductors ETF ( PSI ).
Investors can also look into the two popular leveraged semiconductor ETFs as well. They are the Direxion Daily Semiconductor Bull 3x Shares ( SOXL ) and the Direxion Daily Semiconductor Bear 3x Shares ( SOXS ).
More on Semiconductors & AI
- Nvidia: Diving Deep Into Its Technological Supremacy
- Nvidia: Be Fearful When Others Are Greedy
- Believe It Or Not, Nvidia Stock Is Still Cheap At All-Time Highs
- DigitalOcean gives small businesses access to Nvidia's H100 GPUs
- 2024 will be a pivotal year for artificial intelligence - Deutsche Bank
For further details see:
Top 10 best performing chip stocks of 2024, including NVDA, AMD and MRVL