It's time to buy the AI dip in chip stocks: Jefferies

Jefferies analysts have initiated coverage on the US semiconductors sector with a long-term bullish outlook, indicating that the current upcycle in the space is expected to be strong and lengthy.

In the note, Jefferies encouraged investors to buy the latest dip in AI stocks, after the latest earnings season brought “the first real pullback in the space.” The investment bank believes that AI investment is poised to grow significantly, potentially accounting for 25% of semiconductor revenues by 2027, up from 5% in 2022. With rising cloud capital expenditure budgets, the growth trajectory for AI remains robust.) emerges as Jefferies' “favorite” pick, whose dominance across the entire ecosystem allows it to capture an increasing share of the market.

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