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Nvidia and 2 Chip Stocks to Buy After Intel’s Earnings Beat

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Intel's upbeat outlook contains good news for much of the chip industry. Here are three ways to play it.

Intel shares are surging after the chip maker provided a strong outlook for its December quarter and announced newly signed customers for its nascent foundry business.

On Friday, analyst Harsh Kumar reiterated his Overweight ratings for Nvidia , Advanced Micro Devices , and ON Semiconductor , citing the positive commentary from Intel about key end markets. Intel was also optimistic about demand for AI chips, stating the company was supply-constrained for its Gaudi AI products. It saw order pipelines double for AI chips over the past three months. Kumar said that’s good news for Nvidia and AMD, which both make AI semiconductor products. “This bodes well for AMD’s upcoming MI300 launch and the AI space in general as demand is far ahead of supply at this time,” he wrote.

 

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