6 chip stocks with growth potential in 2024
Recent events in the semiconductor industry are increasing investor interest in chip stocks. The semiconductor industry is currently experiencing a number of events and news that are boosting investor interest in the sector's stocks.
Particular emphasis is being placed on factors such as strong government subsidies and the possible start of a supercycle in the sector. The new year brings new prospects and events that may affect the growth potential in this sector.
Applied Materials $AMAT+4.3%
Applied Materials is a key company in the chip manufacturing industry. It provides the equipment required for the chip manufacturing process and the growing demand for chip devices is expected to boost sales of the company's equipment.
Taiwan Semiconductor Manufacturing $TSM+4.1%
Taiwan Semiconductor Manufacturing is one of the leading players in the semiconductor market. Recent news of the company's revenue growth of 25% in 2024 has boosted investor interest in TSM stock. The company has also entered into a key agreement related to investment in new manufacturing capacity and technology, which has boosted investor interest in TSM stock expecting long-term growth.
The only company capable of doing what it does,ASML provides the complex "lithography" machines used in chip manufacturing. Recent stock performance ASML may be indicative of their continued investment opportunity.
Micron Technology $MU+5.0%
Micron Technology is recovering from a tough 2023, when demand for memory chips fell. However, analysts suggest that the memory chip sector may be in the early stages of a recovery, which could provide growth potential for companies like Micron Technology.
Despite concerns about overpricing, the Nvidia may still represent an interesting investment. With its dominance in artificial intelligence and the upcoming launch of new chips, the stock price is expected to rise further.
Advanced Micro Devices $AMD+5.3%
Advanced Micro Devices is having a positive moment thanks to growing demand for their chips. With the anticipated transition of big players like Microsoft and Meta Platforms to AMD chips, the company may have great potential for future growth.
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