- Evercore ISI analyst C.J. Muse calls Nvidia (NASDAQ:NVDA), Micron (NASDAQ:MU), Marvell (NASDAQ:MRVL), and Analog Devices (NASDAQ:ADI) the best ideas to gain exposure to secular semi trends and potential catalysts.
- Muse says a lot of the bad news is baked into the shares with the Philadelphia Semiconductor Index down 7% from its intraday high on June 7.
- The analyst sees a bottom soon in semi equipment names with Lam Research (NASDAQ:LRCX) and Applied Materials (NASDAQ:AMAT) having the greatest potential for upside. Muse recommends buying in the next three months as the sector moves higher on visibility into shipment growth likely in Q4 or Q1.
- More action: Cowen notes that semicaps earnings season starts with ASML tomorrow. The firm expects a broad guide down on recent memory weakness.
- Cowen prefers Lam Research over AMAT as the season could reset semi concerns while some long-term display overhang remains.
- Source: Bloomberg First Word / Briefing.com.
- Premarket movers: Nvidia -0.4%, Micron +0.1%, Marvell +0.2%, Lam Research -0.5%.
- Now read: Is It Too Late To Buy Nvidia Stock?
Original article