More Price Target Reductions Hit the Semiconductor Industry
As fears of a decrease in consumer spending remain, analysts are continuing to issue downgrades or price target reductions for numerous semiconductor companies. Today's video focuses on another recent downgrade to Nvidia (NASDAQ: NVDA), global PC shipment numbers for the first quarter of 2022, Intel's (NASDAQ: INTC) recent expansion of its research and development (R&D) facilities, and a new consumer processor by Advanced Micro Devices (NASDAQ: AMD). Here are some highlights from the video.
- On April 12, Keybanc lowered its price target on Nvidia to $310, down from $350. Some of the critical points of the price reduction are concerns about the supply chain due to lockdowns in China and geopolitical concerns about the European economy due to the Russia/Ukraine war.
- On April 11, Intel celebrated the grand opening of the latest expansion of its D1X factory. The expansion is needed as Intel has announced a strong roadmap through 2025 that requires providing its engineers with the best equipment to develop and innovate. The D1X is one of its leading-edge factories in Oregon, serving numerous purposes and is highly important for its R&D department.
- AMD will release its newest consumer processor, the Ryzen 7 5800X3D, on April 20. It will be interesting to see how this processor is adopted in the market as fears of a decrease in consumer spending continue to be an essential topic of discussion. The processor is also the first AMD consumer desktop CPU to include AMD's 3D V-Cache technology.
Click the video below for my full thoughts and analysis.
*Stock prices used were the closed market prices of April 12, 2022. The video was published on April 12, 2022. 10 stocks we like better than Nvidia They just revealed what they believe are the ten best stocks for investors to buy right now... and Nvidia wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 7, 2022
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Jose Najarro owns Advanced Micro Devices and Nvidia. The Motley Fool owns and recommends Advanced Micro Devices, Intel, and Nvidia. The Motley Fool recommends the following options: long January 2023 $57.50 calls on Intel and short January 2023 $57.50 puts on Intel. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
