In the tech industry, semiconductors are becoming increasingly important components. These tiny circuit structures are used to power a range of devices from computers and phones to cars and airplanes. It’s no surprise then that investing in semiconductor stocks has become one of the most popular ways for investors to capitalize on the growing demand for these essential electronic components.
As technology continues to evolve, the demand for semiconductors is expected to increase significantly over the coming years. This means that investing in semiconductor stocks carries with it the potential for substantial returns. The increasing complexity of electronic devices also means that there will be an increased need for more powerful, sophisticated semiconductors.
As such, companies that produce these components have a lot of potential for growth and profitability. Considering this, here are three semiconductor stocks to watch in the stock market this week.
Semiconductor Stocks To Buy [Or Avoid] Now
- Advanced Micro Devices Inc. (NASDAQ: AMD)
- Intel Corporation (NASDAQ: INTC)
- NVIDIA Corporation (NASDAQ: NVDA)
Advanced Micro Devices (AMD Stock)
First up, Advanced Micro Devices (AMD) is a leading semiconductor company dedicated to providing powerful, energy-efficient computing solutions on a global scale. Just last month, AMD reported its third-quarter 2022 financial results.
In detail, the company announced Q3 2022 earnings of $0.54 per share, along with revenue of $5.6 billion. Meanwhile, analysts’ consensus estimates for the quarter were earnings of $0.55 per share, and revenue estimates of $5.6 billion. In addition, Advanced Micro Devices reported revenue growth of 29% on a year-over-year basis.
Shares of AMD stock have been hit hard so far this year, as they are down 54.77% year-to-date. Additionally, on Monday morning, AMD stock opened lower by 0.82%, currently trading at $68.02 a share.
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Intel (INTC Stock)
Next, Intel Corporation (INTC) is one of the world’s leading semiconductor chip makers, with a product lineup ranging from enterprise servers to gaming laptops. Moving along, in October, Intel reported its Q3 2022 financial and operating results.
Diving in, the company reported earnings of $0.59 and revenue of $15.3 billion for Q3 2022. Meanwhile, Wall Street’s consensus estimates for the quarter were earnings of $0.34 per share, and revenue estimates of $18.6 billion. In addition, the company said it now expects Q4 2022 earnings of approximately $0.20 per share and revenue between $14 billion and $15 billion.
Year-to-date shares of INTC have dropped by 47.36%. Meanwhile, during Monday morning’s trading action, INTC stock is trading lower by 0.94% at $27.98 a share.
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NVIDIA (NVDA Stock)
Last but least, Nvidia Corporation (NVDA) is a leading provider of graphic processors, artificial intelligence platforms, and other technologies for the gaming, data center, and automotive industries. In November, NVDA reported its Q3 2023 financial and operating results.
In the quarter, Nvidia announced earnings per share of $0.57 per share and revenue of $5.9 billion. For context, this is compared to analysts’ consensus estimates for the quarter which were earnings of $0.67 per share, on revenue of $5.8 billion. Additionally, Nvidia said it now expects Q4 2023 revenue in the range of $5.88 billion to $6.12 billion.
So far in 2022, shares of NVDA have fallen by 43.38% year-to-date. Though, in the last month of trading, shares of NVDA stock have started to recover by 4.67%. Meanwhile, on Monday morning, NVDA stock opened slightly higher by 0.31% at $170.54 a share.
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