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☆ Wall Street is bullish on this chip giant, with Morgan Stanley giving it 55% upside
▼ + stars: | 2023-01-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The once-hot chip sector was hit hard in 2022, with the PHLX Semiconductor Sector Index falling around 37% over the year. And one name keeps coming up as a top pick: Taiwan Semiconductor Manufacturing Company (TSMC). But analysts overall remain positive, with 90% of those covering the stock giving it a buy rating, according to FactSet, and average price target upside of 37%. Morgan Stanley also named TSMC as a top pick in a December note, giving it a price target of $700, or upside of 55%. It explained that the semiconductor industry must continue to invest at a high level in order to achieve future growth, however "investment efficiency" has deteriorated.

☆ Chip stocks did badly this year — but this fund manager is still bullish, naming 2 to buy
▼ + stars: | 2022-12-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The PHLX Semiconductor Sector Index is down nearly 37% year to date. Producing electric vehicles, for instance, involves using a lot more semiconductors, Gleeson noted. Another semiconductor firm he likes is U.S.-based Lattice Semiconductor , which is focusing more on the autos industry. Gleeson isn't the only one who's optimistic on the chip sector. Several Wall Street pros are also urging investors to take a longer-term view on the sector , given the importance of the semiconductor chip in several key secular trends.

☆ Will 2023 be a better year for the chip sector? Wall Street pros weigh in and share their top picks
▼ + stars: | 2022-12-27 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

It's been a tough year for the once-booming semiconductor sector. But several Wall Street pros are urging investors to take a longer-term view on the sector, given the importance of the semiconductor chip in several key secular trends. The bank said the next leg of growth for the sector will be led by government spending on renewable energy and carbon neutrality. The bank named Analog Devices , Marvell Technology , Globalfoundries and Microchip Technology among its top stock picks in the chip sector. TSMC in the headlines One chip stock that has consistently been on investors' radars is semiconductor powerhouse Taiwan Semiconductor Manufacturing Company (TSMC).

☆ Chips Need More Bad News
▼ + stars: | 2022-12-23 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

A plant at Micron, which saw its inventory jump 26% during the most recent quarter to a record high $8.4 billion. The irony is that things may need to get worse before they get better. Micron ‘s rough fiscal first-quarter results late Wednesday added more pressure to the group that is facing its worst annual performance since the financial crisis. The PHLX Semiconductor Index slid more than 4% on Thursday and is now down 36% for the year. That follows three barnstorming years, where the index has averaged a market-trouncing gain of 51% annually.

☆ It's been a bad year for tech. But top investor Paul Meeks is betting on these bright spots
▼ + stars: | 2022-12-01 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

E-commerce Meeks is avoiding the e-commerce space altogether, citing concerns about "lackluster" online Christmas spending in the United States and the return of Covid shutdowns in China. Among the world's major e-commerce stocks, Meeks said he prefers JD.com to Alibaba and Amazon , though he suggested that "investors wait to buy any of them." Cyber stocks Cyber stocks, like nearly everything else in the broader tech sector, haven't been spared from this year's tech rout. The First Trust Nasdaq Cybersecurity ETF (CIBR) and the iShares Cybersecurity and Tech ETF (IHAK) are both down by about 22% this year, less than the Nasdaq's 30% drop. The semiconductor sector has, however, recovered slightly, with the SOX up 14.9% since the end of the third quarter.

☆ Wall Street ends sharply higher on sign of cooling inflation
▼ + stars: | 2022-11-10 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

One-time Wall Street darlings tarnished in 2022's bear market were among Thursday's strongest performers, with Nvidia (NVDA.O) jumping about 14%, Meta Platforms (META.O) climbing 10% and Alphabet (GOOGL.O) rising 7.6%. Growing recession worries have hammered Wall Street this year. The S&P 500 (.SPX) remains down about 17% year to date, and it is on course for its biggest annual decline since 2008. S&P 500's busiest tradesThe S&P 500 climbed 5.54% to end the session at 3,956.31 points. All 11 S&P 500 sector indexes rallied, led by information technology (.SPLRCT), up 8.33%, followed by a 7.74% gain in real estate (.SPLRCR).

"It takes off the table the risk that the Fed will have to overtighten and break the economy." The inflation data prompted traders to adjust their rate hike bets, with odds of a 50-basis point rate hike in December jumping to more than 80% from 52% before the data was released. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.4 points. Wall Street's main indexes have suffered sharp losses this year as investors feared the U.S. central bank's aggressive rate hikes to tame decades-high inflation will tip the economy into recession. The S&P index recorded 13 new 52-week highs and no new low, while the Nasdaq recorded 70 new highs and 93 new lows.

The U.S. central bank is likely to raise rates by 75-basis points for the fourth straight time this year in November. "That probably won't be coming until we start to see some weakness in the labor market, which is helping fuel inflation pressures." Dow components Procter & Gamble Co and Travelers Companies Inc (TRV.N) rose 3.4% and 2.6%, respectively, after the companies posted better-than expected quarterly profit. Declining issues outnumbered advancers for a 2.56-to-1 ratio on the NYSE and for a 1.92-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and five new lows, while the Nasdaq recorded 18 new highs and 100 new lows.

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