2024-02-23 22:31:08 ET
Summary
- Monolithic Power Systems earning results, particularly its enterprise data segment growth, leads me to believe that AI is MPS' get out of jail free card amid industry downturn and correction.
- MPS' unique AI position in its partnership with Nvidia should help offset end demand weakness in its other segments that are weighing on the peer group.
- MPS' stock has outperformed the S&P 500 by roughly 37% over the past six months, and I expect this upward trend to continue into 2H24.
- I hereon share my thoughts on MPS and why I think it'll outperform its peer group over the coming quarter.
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Monolithic Power Systems: AI To Drive Resilience In Spite Of Choppy Market Backdrop - Initiating With A BUY