By Senad Karaahmetovic
Rosenblatt analysts highlighted several chip stocks that could outperform the broader market in 2023.
Overall, analysts are cautious on equities as far as the first half of the year is concerned, although they see an improving outlook in the second half of the year.
“Demand for growth will also face much less of a valuation headwind in 2023 as fundamentals rule the day. We expect a particularly strong 2nd half 2023 for equities, led by Tech. In the meantime, we recommend focusing on fundamentals and emphasize stock picking in your portfolios this year, start playing offense!” Michael Kiernan, Director of Research at Rosenblatt, wrote in a note.
Analysts highlight 4 chip stocks that should attract investors’ attention, including Marvell (Nasdaq: NASDAQ:MRVL), Advanced Micro Devices (NASDAQ:AMD), Nvidia (NASDAQ:NVDA), and Micron (NASDAQ:MU).
“We choose both MRVL and NVDA tied for “1” as top 2023 and secular picks given their unique Mother of all Cycles (MOAC) characteristics of customization and software stack respectively. Our #2 pick is AMD and as best mid-term play on unprecedented share gains in data center CPUs ever seen in the history of silicon. Our #3 2023 pick on industry cyclicality is MU,” analysts said.
Source: investing.com