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Big oil companies like Hess NYSE: HES and the classics such as Chevron NYSE: CVX and even Exxon Mobil NYSE: XOM are raking in big profits lately. It goes to show just how excited the market has become over other areas of the economy, like semiconductor and technology stocks, which is where all the growth came to focus for the future pricing of stocks.
Analog Devices is the second biggest company in its domain, with a large market share in a fragmented market. Such a situation is optimal for further consolidation. Its portfolio of semiconductors plays a critical role in the interface between physical signals and digital flows. It has a well-diversified revenue pool and best-in-class cash conversion. Its end markets are experiencing a cyclical correction, with no clear rebound until the second half of 2024.
Analog Devices (ADI) closed the most recent trading day at $194.74, moving -1.25% from the previous trading session.
A few decades ago, the microchip industry seemed like a niche manufacturing sector. Most perceptions of microchips and semiconductors included large desktop computers and defense communications projects.
Taiwan Semiconductor Manufacturing Co. Ltd. NYSE: TSM stock gapped up nearly 10% on January 18 after trouncing earnings and sales views.
Though the dominance of Nvidia (NASDAQ: NVDA ) is unquestioned – especially with the rising prominence of generative artificial intelligence – it's also worth pointing out that other chip stocks exist. Now, they might not offer the radical paradigm shift that NVDA sparked last year.
ADI, KB and TXO have been added to the Zacks Rank #5 (Strong Sell) List on January 19, 2024.
AMFPF, ADI and AVNS have been added to the Zacks Rank #5 (Strong Sell) List on January 16, 2024.
Analog Devices (ADI) partners with SambaNova Systems to expedite field sales and customer enablement, bolstering its presence in the generative AI chip market.
Semiconductors Winners And Losers At The Start Of 2024