- Rambus ( NASDAQ: RMBS ) shares rose more than 5% on Wednesday as investment firm Wells Fargo called it a "must-own" ahead of upcoming product cycles.
- Analyst Gary Mobley, who has an overweight rating on Rambus ( RMBS ), noted that the stock is a must own ahead of the DDR5 and CXL product cycles over the next five years.
- "Based on the growth potential for this buffer chip business, we believe [Rambus] could have [more than] $4.50 in non-GAAP EPS power in 2028," Mobley wrote in a note to clients.
- Mobley added that Rambus' ( RMBS ) buffer chip business is roughly 40% of its revenues and the leading driver of the company's overall growth.
- Earlier this month, Wells Fargo listed Rambus ( RMBS ) among its top chip stocks to own for 2023 .
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Rambus jumps as Wells Fargo calls it 'must-own' ahead of upcoming product cycles