Nvidia And Marvell Are Strong But These Two Chip Stocks Should Be Sold: Citi
Portfolio Pulse from Benzinga Neuro
Citi analysts have downgraded Skyworks Solutions Inc. (NASDAQ:SWKS) and Qorvo, Inc. (NASDAQ:QRVO) to Sell from Neutral due to increased competition from China. The analysts have also reduced their price targets for these stocks. However, they maintain a positive stance on Nvidia Corporation (NASDAQ:NVDA) and Marvell Technology, Inc. (NASDAQ:MRVL), rating them as Buy.
October 11, 2023 | 9:15 am
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NEGATIVE IMPACT
Qorvo has been downgraded by Citi analysts due to increased competition from China.
The downgrade by Citi analysts due to increased competition from China is likely to negatively impact Qorvo's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Skyworks has been downgraded by Citi analysts due to increased competition from China.
The downgrade by Citi analysts due to increased competition from China is likely to negatively impact Skyworks' stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Citi analysts maintain a positive stance on Marvell Technology, rating it as Buy.
The positive stance by Citi analysts is likely to positively impact Marvell Technology's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Citi analysts maintain a positive stance on Nvidia, rating it as Buy.
The positive stance by Citi analysts is likely to positively impact Nvidia's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100