Citi analyst Christopher Daenley said the consensus estimate for semiconductors fell 11% during earnings, and the SOX index fell 9%, mainly due to a decline in Microchip (MCHP), NXP Semiconductors (NXPI) and Intel (INTC). However, Citi believes the decline in share prices is “mostly over and attention will now turn to 2025.” The company predicts that global semi sales will continue to grow by 17% in 2024 and further increase by 9% year-on-year in 2025. The downturn in the industrial end market will soon be resolved, and the adjustment in the automotive end market will end soon. Analysts told investors in a research note about the 2025 halving. Demand for the remaining 75% of semi-finished products is expected to remain strong, and the company argues that investors should build positions in semiconductor stocks and “be aggressive” heading into the first quarter. Buy evaluation name is Analog Devices (ADI), AMD (AMD), Broadcom (AVGO), microchip, micron (Mu), Texas Instruments (texas), NVIDIA (NVDA) and KLA Corp. (KLAC).
Citi says it’s “near time to buy” semiconductor stocks again
By NvidiaDaily
