[ad_1]
Many investors have been bullish on tech stocks over the past few months, and Goldman Sachs is no exception. In a note dated January 8, the investment bank highlighted opportunities for Asia’s high-tech hardware industry, including cyclical recovery, artificial intelligence and the impact of the geopolitical landscape, including changes in the semiconductor supply chain. ”. Goldman Sachs analysts led by Daiki Takayama said in a note: “While we expect a very gradual cyclical recovery overall, we continue to explore opportunities in individual stocks.” We have listed stocks that are rated as buys, including the four listed. — Play the theme. The bank’s conviction list includes stock ideas with top buy ratings that are expected to beat the market. SK Hynix South Korean semiconductor manufacturer SK Hynix is included in Goldman’s buy rating list and is one of the stocks included in its conviction list. The investment bank noted that the company is “well-positioned” in the high-end DRAM sector and said the company is “one of the main beneficiaries of AI server growth.” DRAM refers to dynamic random access memory. It also expects Hynix and other memory suppliers to experience “significant revenue growth” this year thanks to continued DRAM price increases and modest production increases. “We expect Hynix DRAM inventory levels to reach near normal ranges around mid-2024, which could be the time for suppliers to start considering increased wafer input,” Goldman analysts added. Ta. The bank has set a price target of 170,000 Korean won (about $129), suggesting there is room for an increase of about 27.3%. TSMC Taiwan Semiconductor Manufacturing Company is also a favorite of Goldman. The bank likes its “leadership position” and sees “long-term growth opportunities supported by structural trends in the industry.” Goldman Sachs has placed the stock on its conviction list despite its short-term outlook being “unstable” as it expects the company to “achieve 15% to 20% of sales.” He said he was bullish on the [compound annual growth rate] Goals for the next few years are primarily driven by mid-to-high single-digit silicon content growth and HPC demand. [gross margin] The bank expects the Taiwanese tech giant’s stock price to reach 758 new Taiwan dollars ($24) over the next 12 months, giving it room to rise 29.8%. Renesas Electronics and Foxconn Industrial Internet Goldman also likes Japanese semiconductor manufacturers Renesas Electronics and Foxconn Industrial Internet, the Shanghai-listed arm of Apple supplier Honghai, are also on the list of guilty parties. was. Renesas’ “low P/E ratio makes it more attractive than its peers,” the bank’s analysts said. “We believe the stock is well-positioned with prospects for share price appreciation, as it is likely to have the strongest impact when 3,300 Japanese yen ($22.78) implies an upside of about 37.7%, while Foxconn’s price target of 29 Chinese yuan ($4.07) gives it a potential upside of about 124.6%. In a separate December memo, Goldman wrote that the intelligence division’s share would rise from 2% in 2022 to 24% in 2025. In addition, Foxconn is developing a wide range of businesses along the AI supply chain, from GPU (graphics processing unit) modules to GPU baseboards, AI servers, and related infrastructure. “We are well-positioned to capture strong growth,” he added. —CNBC’s Michael Bloom contributed to this report.
[ad_2]
Source link
