Semiconductor stocks have been red hot as of late, with the iShares S&P NA Tec. Semi. Idx. Fd.(ETF) SOXX 1.69% up 25.5 percent year to date. However, there could be plenty of upside remaining throughout the year in a handful of select names, according to Bank of America analyst Vivek Arya (check out Vivek Arya‘s track record).
Key themes from the Bank of America Global Tech Conference suggest strong demand in the key growth fields of autos, industry, gaming, mobile and data centers along with only mixed sentiment among investors. But investors certainly have the opportunity to be selective heading into the second half of 2017, Arya wrote Friday.
“Heading into 2H, we prefer stocks exposed to seasonal strength in consumer product cycles,” Arya said.
3 Segments
Bank of America specifically likes three segments that should be seasonally strong throughout the remainder of the year. First, Broadcom Ltd AVGO 1.95%, Skyworks Solutions Inc SWKS 1.95% and Texas Instruments Incorporated TXN 2.11% should benefit from the upcoming iPhone 8 cycle.
Second, NVIDIA Corporation NVDA 2.29%, Intel Corporation INTC 0.74% and Advanced Micro Devices, Inc. AMD 2.61% should benefit from strength in the gaming/data center market.
Finally, Microchip Technology Inc. MCHP 1.61%, Texas Instruments and Cypress Semiconductor Corporation CY 3.66% should continue to be winners from the rise of Internet-of-Things connectivity.
Beyond Those 3
Outside of those three target areas for investors, Arya mentioned…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
