3 Stocks to Buy as an Analyst Sees Semiconductor Spending Surging 88%
SK Hynix, Nvidia, and ASML all look like top stocks to own as chip sales are set to soar.
Overview
Bank of America analyst Vivek Arya recently published a note predicting that the semiconductor market will grow to $3.2 trillion in 2030 from $1.7 trillion this year, an 88% increase. The analyst noted that despite some recent rhetoric about slowing artificial intelligence (AI) investments, his team has seen no slowdown in orders, capacity commitments, or pricing, all of which remain strong.
Within the semiconductor space, Arya sees memory becoming the largest market, growing 92% from $937 billion today to $1.8 trillion by 2030. Core semiconductor sales, meanwhile, are projected to rise 83% to $1.35 trillion, while server sales are forecast to jump 136% to $848 billion.
Details
Let's look at three semiconductor stocks poised to benefit from this spending.
Source
Originally published at www.fool.com.