Shares of several chip and hardware stocks are trading higher amid continued strength on positive demand outlook stemming from increased AI popularity. Anticipation of May CPI data on Tuesday and expectations that the Fed will skip a rate hike on Wednesday are also driving the sector.
Portfolio Pulse from Benzinga Newsdesk
Chip and hardware stocks are trading higher due to increased AI popularity and positive demand outlook. May CPI data anticipation and expectations of no Fed rate hike on Wednesday also contribute to the sector's strength.
June 12, 2023 | 7:16 pm
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POSITIVE IMPACT
ACLS stock is trading higher due to increased AI popularity and positive demand outlook, along with expectations of no Fed rate hike.
ACLS is a chip and hardware stock, which is benefiting from increased AI popularity and positive demand outlook. The anticipation of May CPI data and expectations that the Fed will skip a rate hike on Wednesday are also driving the stock higher.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
ADI stock is trading higher due to increased AI popularity and positive demand outlook, along with expectations of no Fed rate hike.
ADI is a chip and hardware stock, which is benefiting from increased AI popularity and positive demand outlook. The anticipation of May CPI data and expectations that the Fed will skip a rate hike on Wednesday are also driving the stock higher.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
AMAT stock is trading higher due to increased AI popularity and positive demand outlook, along with expectations of no Fed rate hike.
AMAT is a chip and hardware stock, which is benefiting from increased AI popularity and positive demand outlook. The anticipation of May CPI data and expectations that the Fed will skip a rate hike on Wednesday are also driving the stock higher.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
MU stock is trading higher due to increased AI popularity and positive demand outlook, along with expectations of no Fed rate hike.
MU is a chip and hardware stock, which is benefiting from increased AI popularity and positive demand outlook. The anticipation of May CPI data and expectations that the Fed will skip a rate hike on Wednesday are also driving the stock higher.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
STX stock is trading higher due to increased AI popularity and positive demand outlook, along with expectations of no Fed rate hike.
STX is a chip and hardware stock, which is benefiting from increased AI popularity and positive demand outlook. The anticipation of May CPI data and expectations that the Fed will skip a rate hike on Wednesday are also driving the stock higher.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
TER stock is trading higher due to increased AI popularity and positive demand outlook, along with expectations of no Fed rate hike.
TER is a chip and hardware stock, which is benefiting from increased AI popularity and positive demand outlook. The anticipation of May CPI data and expectations that the Fed will skip a rate hike on Wednesday are also driving the stock higher.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50