Goldman Sachs has added a number of stocks to its lists of top picks for August. Called the "Conviction List - Directors' Cut," the lists — which are updated monthly — encompass the United States, Europe and Asia-Pacific. These lists are the bank's "curated and active" picks of between 15 and 30 top buy-rated stocks for each region. These are three stocks that the Wall Street bank added for the month.
is set to be a primary driver for semiconductor firm GigaDevice , said Goldman. is a type of semiconductor memory needed for data processing, and as the use of AI grows, so will the need for memory. Goldman expects specialty to contribute between 15% and 23% of the firm's total revenue in 2024 and 2025, respectively, and 34% and 50% of incremental net profits in those two years, respectively. That would lead to a half-on-half year net profit growth in the second half of this year, and 100% year on year for such growth in 2025, according to the bank. Goldman gave the stock a price target of 125 Chinese yuan , or nearly 61% upside. — CNBC's Michael Bloom contributed to this report.