These are Wall Street analysts' favorite chip stocks, including three expected to rally around 30%

Semiconductor shares have seen a big boost on the back of strong demand for Nvidia's AI chips, but Wall Street expects some in the sector still have more upside ahead. The iShares Semiconductor ETF has jumped 42% for the year amid an artificial intelligence-driven boom. Nvidia , which has the largest market cap in the group of $1.1 trillion, has surged nearly 230% in 2023.

Advanced Micro Devices has the second-largest market cap among the list. Wall Street's average price target on its shares suggests the stock could rise nearly 30%. Its shares have already soared 57% in 2023. Rosenblatt named both AMD and Nvidia as its top AI picks in a Friday note. Still, AMD shares were down 7% on Thursday as the Nvidia-powered gains in the early morning fizzled. Shares of On Semiconductor notably pulled back by 15% in August.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia stock: Wall Street gears up for chipmaker's earnings reportFollow all the action as MarketWatch tracks Nvidia and its key earnings release.
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia stock: Wall Street gears up for chipmaker's earnings reportFollow all the action as MarketWatch tracks Nvidia and its key earnings release.
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia stock: Wall Street gears up for chipmaker's earnings reportFollow all the action as MarketWatch tracks Nvidia and its key earnings release.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock futures climb as Nvidia beats Wall Street earnings estimates: Live updatesWall Street is pricing in another blowout earnings report from chipmaker Nvidia.
Source: CNBC - 🏆 12. / 72 Read more »

Stock market today: Asian shares mostly rise after Wall Street rallyAsian shares are mostly rising after Wall Street rallied to its best day since June after pressures from the bond market relaxed a bit.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Global shares mostly rise after Wall Street rallyGlobal markets are mostly rising after Wall Street rallied to its best day since June as pressures from the bond market relaxed a bit.
Source: wjxt4 - 🏆 246. / 63 Read more »