In the back half of 2023, analysts expect an acceleration in capex spending in both the U.S., "and potentially in China." Also supportive of AMD shares, the analysts believe that the PC inventory glut should bottom out in the current quarter. QCOM YTD mountain Qualcomm (QCOM) YTD peformance One key driver of end market improvement is headwinds in China turning to tailwinds in the second half of the year. We continue to hold that view and note again that much of the Barclays analysts' optimism is predicated on their second-half 2023 view. (Jim Cramer's Charitable Trust is long QCOM, AMD, NVDA, EMR, CAT.

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