Semiconductor Stocks seem to finish their correction

Developments in semiconductor technology during the past 50 years have made electronic devices smaller, faster, and more reliable. Think for a minute of all the encounters you have with electronic devices. How many have you seen or used in the last 24 hours? Each has important components that have been manufactured with electronic materials.

NVIDIA

Nvidia Corp. Chief Executive Officer Jensen Huang unloaded shares worth nearly $169 million in June, the most he netted in a single month, as insatiable demand for the chips used to power artificial intelligence drove the stock to fresh peaks.

Nvidia daily chart

As shown in the chart above, NVIDIA share price pulled back to EMA25 after a bearish engulfing candle appeared two weeks ago. This week, after revisited its support level at EMA25, NVIDIA share price seems to find its short term bottom and began to curve slightly upwards. Do take note that the correction might be over soon for NVIDIA and it will start to surge towards its all time high again, simply bullish for NVIDIA $NVIDIA Corp(NVDA)$ .

AMD

Demand for more computing power in the data center is growing at a staggering pace, and AMD has revealed that it has had serious inquiries to build single AI clusters packing a whopping 1.2 million GPUs or more.

AMD daily chart

For AMD, its share price is much weaker as compared to NVIDIA. The stock has consolidated since May until now. Aligned with my previous prediction, AMD pulled back towards EMA 200 trendline support at around 130 USD and began to rebound. The rebound strength was not strong yet, but this might be a beginning for AMD's uptrend movement. 174.59 USD will be the first resistance to break, then it will be definitely worth to revisit and reinvest AMD. With most of the semiconductor stocks breaking new high, I believe AMD $Advanced Micro Devices(AMD)$ will join the rally soon.

Intel

Despite governmental support and funding, Intel's stock remains risky due to poor financial performance and loss of market share in core areas. Intel has significant backing from the U.S. government and politicians, but it continues to lose market share in desktop CPUs and faces competition from ARM-based chips.

Intel daily chart

As a dead cross occurred between EMA50 and EMA200, a mid to long term bearish movement for Intel is unavoidable. However, if you look at the short term, there might be some rebound chance for Intel. The share price seems to form a short term bottom at around 29.80 USD and is able to hold well at this position. I believe the worst is over for Intel and at such price, the risk of having long is much lower than shorting the company. For such, even though the technical chart is not very favourable for Intel, I vote bullish for Intel $Intel(INTC)$ in short term, hoping for a powerful rebound. Moreover, the chart starts to curve upwards too this week!

TSM

TSMC is the world's largest semiconductor foundry, with a 61% market share of the global semiconductor foundry market as of the end of 2023. Its foundry model means it creates semiconductors chips for customers' specific needs rather than for general sales.

TSM daily chart

Quite a healthy chart for TSM, nothing much to monitor and comment other than a clear obvious uptrend. Supported by the strong market demand for its manufacturing capabilities, there's no reason that TSM share price will stop here right? Higher will only go higher, bullish for TSM $Taiwan Semiconductor Manufacturing(TSM)$ ! Correction towards EMA25 is pretty common and healthy after a massive rally. After this, as we can observe from the chart, TSM is now challenging its all time high.

SOXL

SOXL is an ETF that offers 3x daily long leverage to the PHLX Semiconductor Index, making it a powerful tool for investors with a bullish short-term outlook for semiconductor equities. Investors should note that SOXL's leverage resets on a daily basis, which results in compounding of returns when held for multiple periods. SOXL can be a powerful tool for sophisticated investors, but should be avoided by those with a low risk tolerance or a buy-and-hold strategy.

SOXL daily chart

Following the crazy rally in semiconductor stocks, SOXL broke new high in mid June. However, it began to retrace after that until it began to find its near term support at EMA25 and immediately rebounds after touching this trendline support. The retracement is officially ended and with the recent higher low formation, SOXL $Semiconductor Bull 3X Shares(SOXL)$ is ready to challenge its recent high, very soon.

Do you like and invest in AI or semiconductor related stocks? Come and join the discussion with us.

@MillionaireTiger @CaptainTiger @Daily_Discussion @Tiger_comments @TigerGPT @TigerStars

What's Your Buy-in Price For TSM After Earnings?

TSMC's earnings beat lofty analysts’ estimates on growing AI investments around the world. TSMC rose 4.17% in overnight trading but then lost as the semiconductor sector was hit. ------------- Can TSMC save the semi sector? What is your target price?

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Comments

TigerGPT
07-06
TigerGPT
Here is the latest information on the semiconductor stocks you mentioned:
NVIDIA Corp (NVDA):
Stock price: $125.83 (USD)
Trading volume: 214.23 million
Earnings per Share TTM: $1.71
Analyst recommendation: 18 recommend, 36 buy, 5 hold
Analyst target price: The mean, low, and high target estimates are $129.53, $50.3, and $200.0 respectively.
Resistance price: $129.61 (USD)
Support price: $84.01 (USD)
52-Week High: $140.76 (USD)
52-Week Low: $39.23 (USD)
Total Market Cap: $3092.32 billion (USD)
Circulating Market Cap: $2971.46 billion (USD)
Dividend Yield: 0.01%
- TigerGPTReplyShyon:
  Both NVIDIA and AMD are major players in the field of AI, but NVIDIA has a stronger presence and is considered a leader in AI technology. Here are a few reasons why NVIDIA is often regarded as stronger in AI:
  GPU Dominance: NVIDIA's graphics processing units (GPUs) are widely used in AI applications due to their parallel processing capabilities, which are essential for handling the massive amounts of data involved in AI tasks. NVIDIA's GPUs, especially those from their GeForce and Tesla product lines, are highly optimized for AI workloads.
  
  CUDA Framework: NVIDIA's CUDA (Compute Unified Device Architecture) is a parallel computing platform and programming model that allows developers to leverage the power of NVIDIA GPUs for AI and other computational tasks. CUDA has become a standard in the AI community and is widely supported by AI frameworks and libraries.
  
  Deep Learning Libraries: NVIDIA has developed and supports several deep learning libraries, such as cuDNN (CUDA Deep Neural Network Library) and TensorRT (Tensor Runtime), which provide optimized implementations of deep learning algorithms and accelerate AI model training and inference on NVIDIA GPUs.
  
  AI-specific Hardware: NVIDIA has also introduced specialized hardware for AI, such as the NVIDIA Tensor Core, which is designed to accelerate matrix operations commonly used in deep learning. The Tensor Core technology is integrated into NVIDIA's latest GPU architectures, providing significant performance improvements for AI workloads.
  
  While AMD has made significant advancements in recent years and offers competitive GPU solutions, NVIDIA's long-standing dominance in the AI space, its extensive ecosystem, and its focus on AI-specific technologies give it an edge over AMD in terms of AI capabilities.
  It's important to note that the strength of a company in AI goes beyond just hardware. Factors such as software support, developer community, partnerships, and market share also play a crucial role. NVIDIA has established itself as a leader in these areas, making it the preferred choice for many AI applications.
- Shyon:
  NVIDIA VS AMD, who is stronger in AI?
Taurus Pink
07-07
Taurus Pink
目前有投資台積電跟英偉達 [龇牙] [龇牙] [龇牙]
- Shyon:
  恭喜你，盈利应该不错，加油哦
assassinyj
07-08
assassinyj
😂
- Shyon:
  Hehe thanks