Advanced Micro Devices, Inc. ( NASDAQ:AMD )
After the significant decline in share prices that the semiconductor industry has experienced this year, KeyBanc Capital Markets believes that there is an opportunity to make purchases in Advanced Micro Devices (AMD stock) and four other chip firms.
The iShares Semiconductor exchange-traded fund , which mirrors the performance of the ICE Semiconductor Index and has the ticker symbol SOXX, has experienced a loss of thirty percent so far in 2018. On Monday, the ETF saw a loss of 1.3%, while the S&P 500 SPX –1.90% and the Dow Jones Industrial Average DJIA –1.54% both experienced losses of 1.8% and 1.4%.
According to a piece of writing published on Sunday by analyst John Vinh, there are “obvious signals that we’re beginning an inventory correction cycle.” We are anticipating a a’soft landing,’ and we feel that the market decline has already been priced to a great extent. As a result, we see an excellent risk-reward ratio.
Analog Devices (ADI), Advanced Micro Devices ( NASDAQ:AMD ), Nvidia (NVDA), ON Semiconductor (ON), and Qualcomm are some of the companies that Vinh endorses ( QCOM ). He gave all five of the businesses he evaluated the Overweight rating.
The market watcher projects a share price of $220 for Analog Devices and $85 for AMD over the next twelve months. His objectives are $230 for Nvidia, $80 for On, and $150 for Qualcomm.
AMD Stock Price Decreased
On Monday, the prices of all of these stocks went down, including Analog Devices, which fell 0.5% to $167.84; Advanced Micro Devices, which fell 1.8% to $73.62; Nvidia, which fell ...
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