'Data As The New Oil': Semiconductors 'Catching Up' With GDP In 2024, Says Analyst
Portfolio Pulse from Surbhi Jain
Cantor Fitzgerald's 2024 Outlook report for semiconductors, analyzed by C.J. Muse, indicates semiconductor revenues are currently below GDP trend but are expected to catch up and surpass it in 2024. The industry is set for a recovery, with an 18% growth projection for CY24, potentially exceeding 20%. Key growth areas include AI and Memory, with System-on-Chip companies playing a significant role. The SOX index has risen ~95% since its low in October 2022, and semiconductor fundamentals bottomed in Q2 2023, suggesting a strong year ahead for semiconductor stocks.
January 23, 2024 | 9:26 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Advanced Micro Devices is well-positioned to benefit from the semiconductor industry's expected recovery in 2024, with AI and Memory as key sectors.
AMD's involvement in AI and Memory markets positions it to benefit from the semiconductor industry's projected growth in these areas.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
ASML Holding is anticipated to gain from the semiconductor industry's resurgence, especially with its semiconductor equipment offerings.
ASML's role as a semiconductor equipment provider aligns with the overall industry's recovery, indicating a potential positive impact on its stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
GlobalFoundries is likely to experience growth in line with the semiconductor industry's positive outlook for 2024.
GlobalFoundries, as part of the semiconductor industry, is expected to benefit from the overall positive growth projections for 2024.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Intel Corp is positioned to gain from the semiconductor industry's expected recovery in 2024, with AI and Memory markets being key growth areas.
Intel's involvement in AI and Memory markets aligns with the semiconductor industry's expected growth in these areas, suggesting a positive impact on its stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Marvell Technology is anticipated to grow alongside the semiconductor industry's recovery in 2024, especially in AI and Memory markets.
Marvell Technology's focus on AI and Memory markets aligns with the semiconductor industry's expected growth, suggesting a positive impact on its stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Micron Technology is expected to see growth in 2024, particularly in the Memory sector, aligning with the semiconductor industry's recovery.
Micron Technology's focus on Memory aligns with the growth areas in the semiconductor industry, indicating a positive impact on its stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
NVIDIA is expected to benefit from the semiconductor industry's recovery in 2024, with a focus on AI and Memory markets.
NVIDIA's involvement in AI and Memory markets aligns with the identified growth areas in the semiconductor industry, suggesting a positive impact on its stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
NXP Semiconductors is positioned to benefit from the semiconductor industry's growth in 2024, with a focus on AI and Memory markets.
NXP Semiconductors' involvement in the growing sectors of AI and Memory suggests a favorable impact on its stock due to the industry's expected recovery.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Qualcomm is expected to benefit from the semiconductor industry's resurgence in 2024, with AI and Memory sectors being significant growth drivers.
Qualcomm's involvement in AI and Memory sectors positions it to benefit from the semiconductor industry's expected growth in these areas.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Teradyne is likely to experience positive growth in line with the semiconductor industry's positive outlook for 2024.
Teradyne, as a participant in the semiconductor industry, is expected to benefit from the overall positive growth projections for 2024.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Western Digital is likely to see growth in 2024 due to the semiconductor industry's recovery, particularly in the Memory sector.
Western Digital's focus on Memory products positions it well to benefit from the semiconductor industry's expected growth in this area.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 80