Don't be scared by the volatility, keep buying chip stocks into year-end, says Cantor

Investors shouldn't let this summer's market volatility stop them from scooping up shares of semiconductor names, Cantor Fitzgerald says. "Our call — just keep truckin' on amidst the current mid-cycle correction and remain overweight semiconductors," wrote analyst C.J. Muse in a note to clients over the weekend.

Wall Street is paying rapt attention for signs that customers are continuing to spend on the technology, even as some megacaps face backlash over their lack of an immediate profit payoff . Cantor Fitzgerald warns that the recent roller-coaster market action may continue in the face of persistent geopolitical risks, macroeconomic uncertainties and concern about the rate of economic growth in China. Against this backdrop, Muse urges investors to "stick with AI first and foremost.

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