Reported 2 days ago
Chip stocks experienced a notable surge on Monday, primarily driven by Broadcom and AMD following positive analyst forecasts reflecting strong demand for artificial intelligence (AI). UBS analysts boosted Broadcom's price target due to anticipated AI revenue growth, while Rosenblatt highlighted AMD as a top pick, projecting solid market share gains and AI-related prospects. Other chipmakers like Nvidia, Qualcomm, and Intel also saw increases, contributing to a 3% climb in the PHLX Semiconductor Index.
Source: YAHOO