Dernières nouvelles pour Qorvo (NASDAQ:QRVO) Stock

Qorvo

Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015. The company specializes in radio frequency filters, power amplifiers, and front-end modules used in many of the world's most advanced smartphones. Qorvo also has a suite of products sold into a variety of nonsmartphone end markets, such as wireless base stations, cable TV and networking equipment, and infrastructure and military applications.

Qorvo Inc

Gary Black, managing partner at Future Fund LLC, has highlighted what he sees as an attractive valuation for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), despite the company facing increased <a href="https://www.benzinga.com/markets/equities/24/10/41244481/google-cries-foul-as-doj-moves-to-break-up-search-giant-calls-recommendations-radical-as-antitru">scrutiny from the U.S. Department of Justice</a>. 
What Happened: In a recent post on X (formerly Twitter), Black noted Google's modest price-to-earnings (P/E) ratio for 2024, emphasizing its growth potential. However, he also pointed out a looming threat from emerging AI-powered competitors.
The Justice Department recently filed a 32-page court document outlining potential remedies to address Google's dominance in the search market. 
Despite the legal challenges, Black remains bullish on Google's financial outlook. He wrote, &#8220;$GOOG remains relatively inexpensive among growth stocks at a 2024 P/E of 20.7x and 2025 P/E of 18.3x and +15% projected earnings growth between 2024-2029.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> -1.6% today in an up market (NDX +0.6%). Ironic that Justice may attempt to break up GOOG search under anti-trust provisions just as GOOG search is losing share to ChatGPT, Copilot and other AI language models. The Justice Department is considering asking a federal judge…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1844121748998144444?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment &#8216;You&#8217;re Just Lighting Money On Fire&#8217;</a>
Why It Matters: The agency is considering asking a federal judge to order the breakup of certain parts of Google's business, which could have far-reaching implications for the tech giant. This action comes as AI-driven competitors, such as OpenAI&#8216;s ChatGPT and Microsoft&#8216;s Copilot, gain ground in the search space.
The DOJ's document proposes &#8220;behavioral and structural remedies&#8221; aimed at preventing Google from leveraging its suite of products, such as Chrome, Play Store, and Android, to favor its search business and related products. It also includes provisions targeting Google&#8217;s use of artificial intelligence in search, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257551/google-analysts-react-to-dojs-proposed-remedies-for-search-dominance-we-continue-to">underscoring the growing significance of AI in the industry</a>.
Among the remedies, the DOJ suggested that Google could be forced to provide access to the data it uses to build its search results and AI models. The judge overseeing the case, Amit Mehta, is expected to rule on the remedies by August 2025, after a two-week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257551/google-analysts-react-to-dojs-proposed-remedies-for-search-dominance-we-continue-to">remedies hearing in April 2025</a>.
However, Black warned of the potential threat posed by AI-based language models like ChatGPT and Copilot. &#8220;The biggest risk is that ChatGPT, Copilot, and other AI language models continue to take search share from GOOG, even though there's been little loss in search revenue share to date,&#8221; Black noted.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41220500/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Potential &#8216;DOGE&#8217; Department Under A Trump Administration Will Be A &#8216;Garbage Collector&#8217; For Regulations That Don&#8217;t Make Sense</a></li>
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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GOOG

GOOGL

Gary Black Finds Google-Parent Alphabet Attractively Priced Amid Possible DOJ Push To Break The Company: 'Relatively Inexpensive Among Growth Stocks'

On Wednesday, Cathie Wood-led Ark Invest made a significant move in the semiconductor sector, with a notable purchase of shares in Advanced Micro Devices Inc (AMD). This trade comes amidst a dynamic landscape in the semiconductor industry, with AMD showing resilience.
The AMD Trade
On Wednesday, ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) purchased a total of 3,000 shares of AMD, valued at approximately $513,060 based on the closing price of $171.02 on the day of the trade. This move comes in the wake of a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41235547/nvidia-amd-lead-the-pack-broadcom-stable-intel-falters-analysts-latest-take">KeyBanc analyst&#8217;s mixed quarterly supply chain findings</a> for the semiconductor sector, with AMD standing out in the pack.
The analyst noted sustained strength in traditional server and AI, with AMD&#8217;s competitor, Blackwell from Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), set to launch in the fourth quarter without further delays.
Nvidia, despite concerns over AI spending, has continued to defy expectations and approached Apple&#8217;s market capitalization.
Recently, AMD CEO Lisa Su highlighted the <a href="https://www.benzinga.com/news/24/09/40980388/amd-chief-predicts-custom-chips-will-outperform-gpus-sees-shift-in-ai-chip-demand-report">potential shift</a> toward custom AI chips offering greater efficiency and lower costs, hinting at competition with Nvidia. While Nvidia remains dominant with GPUs for AI and gaming, Su emphasized the future will involve diverse chip architectures, with AMD focusing on mainstream GPUs and data center growth.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment &#8216;You&#8217;re Just Lighting Money On Fire&#8217;</a> 
Other Key Trades:
Ark Invest&#8217;s ARKG and ARKK funds bought a total of 425,213 shares of Recursion Pharmaceuticals Inc (RXRX). The ARKG fund also purchased 17,542 shares of 10X Genomics Inc (TXG). 
Meanwhile, ARKQ sold shares of Markforged Holding Corp (MKFG) and bought shares of Blade Air Mobility Inc (BLDE). The ARKX fund followed suit, selling shares of Markforged and buying shares of Blade Air Mobility.
Image via Wikimedia Commons
Read Next:
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<li> <a href="https://www.benzinga.com/markets/equities/24/10/41245350/nvidia-poised-to-overtake-apple-as-worlds-most-valuable-company-how-much-jensen-huangs-company-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Poised To Overtake Apple As World&#8217;s Most Valuable Company: How Much Jensen Huang&#8217;s Company Needs To Gain By Wednesday</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

ARKQ

ARKX

NVDA

Cathie Wood's Ark Invest Swoops In To Buy AMD Shares As Nvidia Looms Large

In a recent development, Georgia Republican Rep. Marjorie Taylor Greene (R-Ga.) has come under scrutiny for propagating conspiracy theories about the government&#8217;s ability to manipulate severe weather events such as hurricanes.
What Happened: On Wednesday, Greene took to X and cited the National Oceanic and Atmospheric Administration's (NOAA) reports on weather modification projects as proof that weather could be manipulated. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Everyone keeps asking, "who is they?" Well some of them are listed on NOAA, as well as most of the ways weather can be modified, because they are required to report it to the Secretary of Commerce by the Weather Modification Act of 1972. The NOAA government website has a… <a href="https://t.co/UaNZCiZ8es">pic.twitter.com/UaNZCiZ8es</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1844056573892579788?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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Previously she also shared similar theories in another post on X on Tuesday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Marjorie Taylor Greene was right. Yes, scientists do control the weather."<a href="https://t.co/7SvNdlygkP">https://t.co/7SvNdlygkP</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1843651263193591936?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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Greene has been disseminating these theories on the internet, coinciding with the approach of Hurricane Milton towards Florida. Her posts have ignited worries about the dissemination of misinformation and its potential impact on people&#8217;s safety decisions, <a href="https://thehill.com/policy/technology/4925267-greene-takes-fire-for-sharing-for-remarks-about-the-weather/">reported</a> The Hill.
Starting from October 3, Greene&#8217;s posts have drawn criticism from her Republican peers and President Joe Biden. In his Wednesday address, Biden referred to Greene&#8217;s assertions as part of a wider conversation on misinformation.
Biden denounced Greene for disseminating what he termed as &#8220;irresponsible&#8221; and &#8220;beyond ridiculous&#8221; fabrications about weather control. He stated that such claims are eroding trust in rescue and recovery efforts.
Greene&#8217;s social media activities include sharing a map by influencer Matt Wallace, implying that Hurricane Helene was deliberately directed towards Republican-leaning counties.
Her posts have been countered by fellow Republicans, including Rep. Carlos Gimenez (R-Fla.) and Rep. Chuck Edwards (R-N.C.), who have stressed that such large-scale weather control is beyond the reach of current technology.
&#8220;Humans cannot create or control hurricanes,&#8221; said Gimenez on social media. &#8220;Anyone who thinks they can, needs to have their head examined.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41214802/joe-biden-quick-question-before-you-go-are-those-cannabis-pardons-from-2-years-ago-still-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joe Biden, Quick Question Before You Go: Are Those Cannabis Pardons From 2 Years Ago Still On?</a>
Why It Matters: This controversy arises in the context of Florida bracing for <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">its second hurricane in less than two weeks</a>. Hurricane Milton, which was <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">downgraded to a Category 4 storm</a> is expected to hit some of Florida's most populous areas, including the Tampa Bay area. 
Greene has previously faced criticism for promoting controversial ideas, such as a 2018 Facebook post about &#8220;Jewish space lasers,&#8221; which invoked antisemitic tropes. Greene's embrace of conspiracy theories has <a href="https://www.benzinga.com/news/24/03/37525135/marjorie-taylor-greene-tells-former-bbc-host-to-f-off-at-trumps-mar-a-lago">drawn backlash</a>, including from Republicans.
The spread of misinformation during such critical times could potentially impact people&#8217;s decisions about their safety and undermine confidence in rescue and recovery efforts.
Photo courtesy: Shutterstock
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Politics

General

Marjorie Taylor Greene Sticks To Weather Modification Theories Amid Ongoing Hurricane Emergency — Gets Head Examination Advice From Florida Republican

Publicly traded Flora Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLGC#NASDAQ">FLGC</a>) is closely monitoring Germany's newly approved legislation on industrial hemp, viewing it as a potential game-changer for the <a href="https://www.benzinga.com/topic/europe-cannabis">European market</a>.
Germany has recently updated its regulatory framework. The changes <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">introduced</a> by Minister of Food and Agriculture Cem Özdemir have liberalized industrial hemp cultivation, <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">removing</a> previous barriers such as the &#8220;abuse clause&#8221; that limited the industry's growth. The clause stipulated that industrial hemp was only to be allowed if misuse for intoxication purposes was ruled out.
Flora Growth, which is based in Florida, is an established player in the hemp space with brands like JustCBD and Vessel. The company is eager to take advantage of the opportunity these changes are bringing. 
With its expertise in cannabinoid extraction and a successful portfolio of<a href="https://www.benzinga.com/markets/cannabis/20/09/17664481/will-low-thc-cannabis-be-the-next-big-trend-1"> low-THC hemp</a> products, Flora sees Germany as the next frontier. 
The company plans to bring its products to the European market, targeting <a href="https://www.benzinga.com/markets/cannabis/24/09/40824983/20m-germans-could-benefit-from-medical-marijuana-but-most-struggle-to-find-prescribing-doctors">German consumers</a> as demand grows in this newly accessible sector.
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<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">Green Wave In Germany Now Includes Hemp, New Bill Promotes Industrial Production</a></li>
</ul>
The new legislation allows for easier cultivation, processing, and distribution of industrial hemp. Thus, it is expected to bolster Germany's emerging hemp industry. Industrial hemp, containing less than 0.3% THC, is valued for its <a href="https://www.benzinga.com/markets/cannabis/24/10/41238140/crafting-a-mixed-martial-arts-plant-texas-scientists-develop-drought-resistant-hemp-strain">wide </a><a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">range of uses</a>, including textiles, wellness products, and other applications. The global market of industrial hemp market is<a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss"> projected to grow</a> by $13.90 billion from 2024 to 2028
Flora's positioning in the hemp cannabinoid space aligns well with these opportunities.
Clifford Starke, chairman and CEO of Flora Growth, <a href="https://www.newsfilecorp.com/release/226095/Flora-Growth-Corp.-Applauds-Germanys-New-Industrial-Hemp-Legislation-Plans-to-Leverage-Expertise-for-Market-Entry">expressed</a> the company's enthusiasm for Germany's legislative shift: "We believe that Germany&#8217;s progressive move to liberalize industrial hemp cultivation marks a pivotal moment for the European hemp industry. As a company with deep experience in cannabinoid extraction and product development, we are excited to bring our expertise to Germany."
In a statement, Flora announced that the company is actively engaging with local partners and preparing for market entry as the final details of Germany's hemp regulations take shape. 
<ul>
<li>Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40824983/20m-germans-could-benefit-from-medical-marijuana-but-most-struggle-to-find-prescribing-doctors"> 20M Germans Could Benefit From Medical Marijuana But Most Struggle To Find Prescribing Doctors</a></li>
</ul>
Cover photo by <a href="https://www.pexels.com/es-es/foto/marcar-cerca-del-edificio-1128416/">Niki Nagy </a>via Pexels

Cannabis

 FLGC

Nasdaq-Listed Cannabis Company Eyes Germany's New Hemp Legislation With Intense Interest

Pop icon Taylor Swift has donated $5 million to Feeding America to support their disaster relief initiatives in the wake of Hurricanes Helene and Milton.
What Happened: Feeding America announced Swift&#8217;s substantial contribution on Wednesday. The funds are earmarked for relief efforts in communities impacted by the recent hurricanes.
Feeding America&#8217;s CEO, Claire Babineaux-Fontenot, expressed gratitude for Swift&#8217;s donation, stating it will &#8220;help communities rebuild and recover, providing essential food, clean water, and supplies to people affected by these devastating storms.&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="938" height="601" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34.png" alt="" class="wp-image-588587" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34.png 938w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34-300x192.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34-768x492.png 768w" sizes="(max-width: 938px) 100vw, 938px" /></figure>
Screenshot From Instagram Account of Feeding America CEO Claire Babineaux-Fontenot
The announcement of Swift&#8217;s donation came just hours before Hurricane Milton was predicted to hit the west coast of the Florida peninsula. The storm is expected to bring historic storm surges, heavy rainfall, and record-breaking flash and urban flooding, <a href="https://thehill.com/blogs/in-the-know/4925400-taylor-swift-donates-5-million-feeding-america-hurricane-relief/">reported</a> The Hill.
Feeding America has been actively involved in recovery efforts since Hurricane Helene caused catastrophic damage to Southern states less than two weeks ago. The organization has dispatched 140 truckloads of relief supplies to 11 food banks in Florida, North Carolina, South Carolina, Georgia, and Tennessee.
See Also: <a href="https://www.benzinga.com/news/24/10/41242634/ron-desantis-says-kamala-harris-is-delusional-for-trying-to-say-his-sole-focus-on-people-of-florida?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron Desantis Says Kamala Harris Is &#8216;Delusional&#8217; For Trying To Say His Sole Focus On People Of Florida Is Selfish Amid Phone Call Row</a>
Why It Matters: Swift&#8217;s donation comes at a crucial time as Florida braces for the impact of Hurricane Milton, the second hurricane to hit the state in less than two weeks. <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Evacuation orders</a> are in place for multiple Florida counties, with officials issuing dire warnings for those who choose to stay home.
According to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41254312/hurricane-milton-descends-on-florida-analysts-warn-of-impact-on-disney-nexteras-flo">analysts</a>, sectors including insurance, regional banks, fitness centers, utilities, hospitals, and theme parks could be negatively impacted by Hurricane Milton. The storm is predicted to have a significant impact on Florida&#8217;s most populous areas, including the Tampa Bay area.
Furthermore, Goldman Sachs estimates that Hurricane Milton could cause an adverse <a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac">impact of $150 million to $200 million</a> on Walt Disney World's Parks and experiences in the current quarter. This potential loss is primarily attributed to the expected drop in domestic attendance at Walt Disney World, with projections now suggesting a 6% year-over-year decline in attendance growth, compared to an earlier estimate of a 2% decline. 
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Taylor Swift Donates $5M Toward Hurricane Recovery: 'Contribution Will Help Communities Rebuild'

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Several rappers have bought leading cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) over the years, but fewer have bought meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which is loved by billionaires like Mark Cuban <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35860106/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-crypto-heres-how-mu">and Elon Musk.</a>
One rapper took a chance on Dogecoin in 2021, but his timing may have been among the worst.
What Happened: Logic, 50 Cent and Nas, who also<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41204472/if-you-invested-1000-in-bitcoin-when-rap-legend-nas-sang-that-he-was-coin-based-basically-"> invested in cryptocurrency companies,</a> are among the rappers who have bought Bitcoin or rapped about the cryptocurrency over the years.
Rapper Meek Mill announced on May 4, 2021, that he bought Dogecoin.
"I just grabbed some doge I'm tired of missing out," Meek Mill <a href="https://x.com/MeekMill/status/1389621286536634368">tweeted</a>.  
The rapper spent $50,000 on 92,411 Dogecoin according to a <a href="https://www.xxlmag.com/meek-mill-dogecoin-stock-50000-dollars/">report </a>from XXL Mag.
Meek Mill <a href="https://x.com/MeekMill/status/1390099342720176134">tweeted </a>a day later "what's up wit doge coin" asking his followers why the cryptocurrency was moving, sharing a screen shot from his account.
Dogecoin traded between $0.400800 and $0.65998 on May 4, 2021, the date of the rapper's purchase. No matter when investors bought Dogecoin they would be down if they chose to follow the rapper.
A $1,000 investment could have bought 1,650.17 DOGE on May 4 based on the highest price of the day. The $1,000 investment would be down 82% since the rapper's tweet.
While it is unknown if Meek Mill still holds any Dogecoin, the rapper would be down on his position and likely took a loss if he sold, depending on when his sale was made.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41105426/if-you-invested-1-000-in-dogecoin-when-mark-cuban-and-the-dallas-mavericks-welcomed-the-me">If You Invested $1,000 In Dogecoin When Mark Cuban And The Dallas Mavericks Welcomed The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Now</a>
Meek Mill's Bad Timing: Dogecoin went on to hit all-time highs just days after the rapper made the purchase. The all-time high was $0.7376 on May 8, a date which coincided with Musk appearing on "Saturday Night Live" and<a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27064582/today-is-the-one-year-anniversary-of-elon-musk-on-snl-and-dogecoin-all-time-highs-heres-wh"> mentioning the meme coin.</a>
The May 4, 2021 tweet signaled Meek Mill was tired of missing out and his timing may have missed out on some huge profits.
On Jan. 8, 2021, Meek Mill <a href="https://x.com/MeekMill/status/1347577344609955842">tweeted </a>about cryptocurrency.
"I need everybody that rock wit me to learn about stocks and crypto currency!" the rapper tweeted.
The rapper didn't learn about cryptocurrency — or at least Dogecoin — as his first investment wouldn't come for four more months.
Dogecoin traded between $0.009177 and $0.010867 on Jan. 8, 2021.
A $1,000 investment by the rapper at that day's high price could have bought 92,021.72 DOGE. The Dogecoin investment would be worth $10,011.96, up 901.2%.
If Meek Mill bought the same $50,000 in Dogecoin at the high price on Jan. 8, 2021, he could have bought 4,601,085.86 DOGE.
That same investment would be worth $500,598.14 today and would have been worth $3,393,760.93 at the coin's all-time high.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/39870013/elon-musk-reacts-as-rapper-meek-mill-flexes-his-all-black-cybertruck-ahead-of-his-new-song-">Elon Musk Reacts As Rapper Meek Mill Flexes His All-Black Cybertruck Ahead Of His New Song Named After Tesla&#8217;s EV Truck</a></li>
</ul>
Photo: Meek Mill, photo by Jake Giampa via Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Entertainment

Education

$BTC

$DOGE

If You Invested $1,000 In Dogecoin When Rapper Meek Mill 'Grabbed Some Doge,' Here's How Much You'd Have Today

Rosie Mattio, founder and CEO of Mattio Communications, and Jason Erkes, chief communications officer at Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), both agreed that throughout their many years in public affairs and communications, they'd never seen anything quite like Florida's cannabis legalization campaign in support of <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a>.
"Massive…massive," said Erkes at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> on Oct. 9. The panel was &#8220;One Month Out: Inside Florida&#8217;s Record-Breaking Adult-Use Legalization Effort.&#8221;
Erkes noted the <a href="https://drupal-cloudfront.benzinga.com/topic/smart-safe-florida" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>&nbsp;campaign raised at least $100 million to get the word out.&nbsp;Indeed, Amendment 3 is the best-funded cannabis legalization amendment in American history, surpassing the previous record set by&nbsp;<a href="https://www.benzinga.com/markets/cannabis/20/04/15926183/two-years-after-prop-64-california-cannabis-industry-at-a-crossroads" target="_blank" rel="noreferrer noopener">California's 2016 Proposition 64.</a>
Amendment 3 will go before Florida voters this coming&nbsp;<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November</a>.
<h1 class="wp-block-heading">Getting The Word Out Like None Other</h1>
One of the campaign's strengths, said Mattio, was that it meets people where they are — in the towns and communities across Florida — and the reception has been positive. People relate to issues such as criminal justice reform and freedom of choice. They don't necessarily need to be cannabis consumers to get behind these basic concepts, Mattio said. Not to mention that medical marijuana has been legal in Florida for a decade and its success "has been an example of what a good program looks like," she added.
Mattio and Erkes had the highest praise for Smart &amp; Safe's nearly 800 satellite offices all over Florida, the thousands of lawn signs, the campaign's 13 TV ads and of course making sure people were registered to vote. "It's a political campaign, after all," Erkes said.
<h1 class="wp-block-heading">Speaking Of TV Ads &nbsp;</h1>
Panel moderator Bryna Dahlin asked about the recent lawsuits popping up in Florida. There's the <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">defamation lawsuit</a> launched by Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) accusing the Florida Republican Party of intentionally misleading voters with a deceptive TV campaign ad. 
That lawsuit alleges that the TV ad in question misleads voters by implying that only large cannabis companies, such as Trulieve will benefit from marijuana legalization. 
Then there's Florida state Sen. Jason Pizzo&nbsp;(D) who is <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">suing the State of Florida</a> for misusing taxpayer dollars to fund an ad produced by the&nbsp;Florida Department of Transportation opposing Amendment 3.
"I generally don't think it's a good idea to poke the bear," said Erkes, but in this case "one way to discredit a false narrative is to launch a lawsuit." In fact, it's a great PR campaign, he added.
Now Read: 
<ul>
<li>EXCLUSIVE: <a href="https://www.benzinga.com/markets/cannabis/24/10/41258536/exclusive-cannabis-companies-must-get-more-juice-from-the-same-squeeze-says-cresco-labs-ceo-as-c">Cannabis Companies Must &#8216;Get More Juice From The Same Squeeze,&#8217; Says Cresco Labs CEO As Challenges Persist</a></li>
</ul>
Photo: Benzinga Cannabis Capital Conference, Oct. 9, 2024, Photo by Wendy Davis

Events

Exclusives

CRLBF

TCNNF

EXCLUSIVE: 'Poking The Bear' As Florida's Contentious Cannabis Legalization Vote Looms

For meteorologists who study extreme weather events like Hurricane Milton — and Hurricane Helene just two weeks ago — the most frightening aspect of the back-to-back storms <a href="https://www.benzinga.com/news/24/10/41257552/how-strong-is-milton-what-to-expect-from-hurricane-categories-1-through-5">isn&#8217;t just strength</a>. 
It&#8217;s speed. 
The fact that Milton mutated from tropical storm to Category 5 hurricane in under 24 hours stunned NBC6 Miami&#8217;s John Morales to the point where he held back tears. Watch the video<a href="https://twitter.com/JohnMoralesTV?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor"> in his X account</a>.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I debated whether to share this. I did apologize on the air. But I invite you to read my introspection on <a href="https://twitter.com/BulletinAtomic?ref_src=twsrc%5Etfw">@BulletinAtomic</a> of how extreme weather &#x1f4c8; driven by global warming has changed me. Frankly, YOU should be shaken too, and demand <a href="https://twitter.com/hashtag/ClimateActionNow?src=hash&amp;ref_src=twsrc%5Etfw">#ClimateActionNow</a>. <a href="https://t.co/09vxgabSmX">https://t.co/09vxgabSmX</a> <a href="https://t.co/GzQbDglsBG">https://t.co/GzQbDglsBG</a>
&mdash; John Morales (@JohnMoralesTV) <a href="https://twitter.com/JohnMoralesTV/status/1843325629741285439?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Morales isn&#8217;t alone. Other scientists sounded the alarm, too. They used words like &#8220;<a href="https://x.com/AndyHazelton/status/1843342493318033642?utm_source=substack&amp;utm_medium=email">unprecedented</a>&#8221; and &#8220;<a href="https://x.com/webberweather/status/1843317499091382515?s=46&amp;t=xkbHVlvdaIg9MYo3Hv8M_w&amp;utm_source=substack&amp;utm_medium=email">jaw-dropping</a>.&#8221;
See Also: <a href="https://www.benzinga.com/real-estate/24/10/41251171/hurricane-helenes-destruction-sparks-search-for-safety-10-states-where-property-is-at-the-lowest-ris">Hurricane Helene&#8217;s Destruction Sparks Search For Safety — 10 States Where Property Is At The Lowest Risk</a>
Within 36 hours of formation, Milton&#8217;s winds reached 180 miles per hour. That&#8217;s lightning fast in the world of storm tracking. 
But it shouldn&#8217;t have been a surprise. Helene also mutated from a tropical storm to a Category 4 hurricane in just two days.
For those wondering how two storms, with rains Morales described as &#8220;<a href="https://thebulletin.org/2024/09/hurricane-helene-isnt-an-outlier-its-a-harbinger-of-the-future/#post-heading">biblical</a>,&#8221; are a sudden reality, NASA has an answer: Warm ocean waters due to human-caused climate change.
These conditions caused Milton and Helene to become powerful Category 5 storms.
&#8220;Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida,&#8221; NASA Climate, an account affiliated with NASA, posted on X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warm ocean waters due to human-caused climate change helped fuel Hurricane <a href="https://twitter.com/hashtag/Milton?src=hash&amp;ref_src=twsrc%5Etfw">#Milton</a> to become a powerful Category 5 storm. Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida. <a href="https://t.co/p4WvGdpcWE">https://t.co/p4WvGdpcWE</a> <a href="https://t.co/P3qashjqoc">pic.twitter.com/P3qashjqoc</a>
&mdash; NASA Climate (@NASAClimate) <a href="https://twitter.com/NASAClimate/status/1844030081460502696?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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The primary business activities of certain companies are directly linked to greenhouse gases such as carbon dioxide and methane.
You know the names: Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) and PetroChina (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PCCYF#OTC">PCCYF</a>), to name a few.
&#8220;I tried to warn people,&#8221; Morales wrote in the Bulletin of Atomic Scientists last month. &#8220;Except that the warning was not well received by everyone. A person accused me of being a &#8216;climate militant,&#8217; a suggestion that I'm embellishing extreme weather threats to drive an agenda. Another simply said that my predictions were &#8216;an exaggeration.&#8217; But it wasn't an exaggeration.&#8221;
Meanwhile, oil companies operating in the Gulf are currently experiencing setbacks. Chevron&#8217;s Blind Faith platform, for example, shut down and forced personnel to evacuate. It produces around 65,000 barrels of oil per day.
Historically, companies like Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) and others in the Gulf region followed similar protocols, ahead of significant storms like Helene and — just a couple of weeks earlier — Hurricane Francine​.
See Also: <a href="https://www.benzinga.com/government/24/09/40822108/hurricane-francine-approaches-louisiana-coast-may-become-category-2-storm">Hurricane Francine Approaches Louisiana Coast With Category 2 Storm Potential, Local Oil Refineries Cut Production</a>
<h1 class="wp-block-heading">ExxonMobil Accepts, Then Denies</h1>
Like Morales, ExxonMobil&#8217;s own scientists made similar predictions — in 1977. 
InsideClimateNews <a href="https://insideclimatenews.org/news/02052024/from-the-archive-exxon-research-global-warming/?utm_source=substack&amp;utm_medium=email#:~:text=He%20warned%20Exxon%20scientists%20and,degrees%20Fahrenheit)%20at%20the%20poles.">republished</a> a 2015 article this past May that chronicles how James Black presented evidence to Exxon brass decades ago, detailing how the oil industry&#8217;s operations would endanger humanity.
&#8220;There is general scientific agreement that the most likely manner in which mankind is influencing the global climate is through carbon dioxide release from the burning of fossil fuels," Black said at the time.
Exxon eventually <a href="https://insideclimatenews.org/wp-content/uploads/2015/10/Exxon-Review-of-Climate-Research-Program-1981.pdf">nixed its carbon dioxide research</a> and chose, instead, to deny climate change. 
Fast-forward to today, elected officials are either <a href="https://www.youtube.com/watch?v=4RbvIMfwNzU">dismissing</a> it entirely or calling it a <a href="https://x.com/realDonaldTrump/status/265895292191248385">hoax</a>. Meanwhile, the U.S. produces more oil <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">than ever before</a>. 
&#8220;We're seeing it play out in this post-truth era, in ways that's really damaging society. And I'm not talking more in the psychological, esoterical ways, or maybe in the election outcome ways. This is getting in the way of emergency management agencies doing their job and saving lives and getting people out of harm's way,&#8221; Morales <a href="https://thebulletin.org/2024/10/meteorologist-john-morales-theres-rapid-intensification-theres-extreme-rapid-intensification-and-then-theres-hurricane-milton/">says</a>. &#8220;It's getting in the way of recovery efforts&#8230; And yeah, it's definitely a hindrance to my mission as a person whose life mission is saving life and property.&#8221;
What&#8217;s Next: The U.S. Energy Information Administration continues to analyze energy data, and how Milton <a href="https://www.eia.gov/todayinenergy/detail.php?id=63444">affects</a> energy infrastructure. The agency will publish an inventory report on Thursday; The Wall Street Journal <a href="https://www.wsj.com/finance/commodities-futures/u-s-natural-gas-futures-move-lower-as-storm-looms-24b63a6f?mod=latest_headlines">expects</a> the surplus in U.S. natural gas to contract as Hurricane Milton makes its way across Florida.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o">Oil Dips To $73 As China Withholds Stimulus, Biden Attempts To Contain Netanyahu Over Israel&#8217;s Attack On Iran</a></li>
</ul>
Photo: Courtesy of NASA

PCCYF

SHEL

How Did Hurricanes Milton, Helene Intensify So Quickly? ExxonMobil's Scientists Warned Us... In 1977

Rosenblatt analyst Mike Genovese maintains Applied Optoelectronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) with a Buy and maintains $20 price target.

Price Target

Analyst Ratings

AAOI

Rosenblatt Maintains Buy on Applied Optoelectronics, Maintains $20 Price Target

Macquarie analyst Tao Qiu maintains Brookdale Senior Living (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKD#NYSE">BKD</a>) with a Outperform and maintains $8 price target.

Macquarie Maintains Outperform on Brookdale Senior Living, Maintains $8 Price Target

DA Davidson analyst Linda Bolton Weiser initiates coverage on Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Neutral rating and announces Price Target of $159.

Initiation

DA Davidson Initiates Coverage On Procter & Gamble with Neutral Rating, Announces Price Target of $159

Actor Jim Belushi compared the similarities of acting and cannabis to an audience at the<a href="https://www.benzinga.com/events/cannabis-conference/"> Benzinga Cannabis Capital Conference on Oct. 9.</a>
Here's a look at what makes the two sectors similar and more on Belushi's journey to help people through cannabis.
Acting to Cannabis: Belushi may be best known for his roles in television and movies, but at the 2024 Benzinga Cannabis Capital Conference, the audience and other speakers are aware of his efforts in <a href="https://www.benzinga.com/markets/cannabis/24/09/40720303/hollywood-star-jim-belushi-brings-cannabis-expertise-to-chicago-conference-in-october">the cannabis sector.</a>
The actor said "It's been a great journey" going from one farm to now having products sold in 14 states.
Cannabis is like acting, Belushi told the crowd.
Belushi said as an actor he asked himself why he was doing acting and it came down to the idea of making people feel good.
"You want them to leave the theater feeling good," Belushi said.
Belushi said the switch to cannabis comes with the same mentality.
"Adding on cannabis to my purpose, the purpose is the same. Cannabis makes people feel good."
The actor and cannabis entrepreneur said cannabis can help with pain, increase happiness and make people feel better overall. "I feel like I am totally on purpose from actor to cannabis," he said.
Belushi, who stars in "Growing Belushi," which airs on Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>)-owned Discovery, credits his partners and relationships in the industry for helping his growth.
"We are bred on a plant that is based on kindness, generosity and healing."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41233018/exclusive-ross-gerber-sees-tsunami-of-money-pouring-into-cannabis-companies-upon-federal-legaliz">EXCLUSIVE: Ross Gerber Sees &#8216;Tsunami Of Money&#8217; Pouring Into Cannabis Companies Upon Federal Legalization, Says Cannabis Is One Of &#8216;Biggest&#8217; Opportunities Beyond AI</a>
Challenges of Cannabis: Belushi said one of the main differences between cannabis and "show business" is the amount of time it takes to get things done.
Within the cannabis industry, the biggest challenge Belushi highlighted was the price. "Growing is very expensive," Belushi said.
The actor and entrepreneur said the market is oversaturated and it's hard to make any margin in states like Oregon.
Asked later on about his advice to someone looking to start their own grow farm, Belushi answered, "Don't do it. Don't f&#x2A;&#x2A;&#x2A;ing do it."
Belushi admitted he never got involved in cannabis for the money and was just hoping to break even, adding "I already got my TV money."
Belushi said he got involved in cannabis and remains involved despite the struggles as people should focus on things they're passionate about.
"I have passion for what this plant can bring to our community."
 What's Next: Belushi said he was excited about the potential for rescheduling happening this year and questions why it hasn't happened.
Until rescheduling happens, Belushi said doctors at Veteran Affairs can't give people cannabis instead of oxycontin.
"Why aren't we taking care of them?" Belushi asked of the country's veterans.
Belushi also said he was disappointed to see Vice President Kamala Harris talk about putting so many people in California into jail when many were put in there for marijuana-related crimes. The actor noted that he is not anti-Harris, but disagrees in this matter.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41241368/exclusive-elon-musks-x-is-safe-space-to-say-weed-the-only-social-platform-where-you-can-talk-abo">EXCLUSIVE: Elon Musk&#8217;s X Is &#8216;Safe Space&#8217; To Say Weed: &#8216;The Only Social Platform Where You Can Talk About Cannabis Openly&#8217;</a></li>
</ul>
Photo: Jim Belushi at the Benzinga Cannabis Conference 2024, Photo by Wendy Davis

Jim Belushi Compares Passion For Acting To Cannabis Business: 'Makes People Feel Good'

UBS analyst Trung Huynh maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Neutral and raises the price target from $50 to $54.

UBS Maintains Neutral on Bristol-Myers Squibb, Raises Price Target to $54

UBS analyst Colin Bristow maintains Merck &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) with a Buy and lowers the price target from $142 to $136.

UBS Maintains Buy on Merck & Co, Lowers Price Target to $136

UBS analyst Navin Jacob maintains AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) with a Neutral and raises the price target from $185 to $195.

ABBV

UBS Maintains Neutral on AbbVie, Raises Price Target to $195

UBS analyst Jay Sole maintains Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) with a Buy and raises the price target from $225 to $226.

DECK

UBS Maintains Buy on Deckers Outdoor, Raises Price Target to $226

UBS analyst Dennis Geiger maintains McDonald's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) with a Buy and raises the price target from $305 to $345.

UBS Maintains Buy on McDonald's, Raises Price Target to $345

Overweight quality stocks with positive EPS revisions - MS

The semiconductor industry is on the rise owing to the increasing demand, technological progress, and government investments. Thus, investors could consider investing in Taiwan Semiconductor (TSM), Qorvo (QRVO), and QUALCOMM (QCOM) to capitalize on the sector's growth before the next chip shortage. Read more… The global semiconductor industry is growing with rising electronics use and integration across applications such as networking communication devices, data processing, industrial automation, consumer electronics, automotive, and government projects. However, as the threat of a chip shortage looms, the industry might be in a challenging state.
Amid this backdrop, it could be wise to invest in fundamentally robust semiconductor stocks Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>), Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>), and QUALCOMM Incorporated (<a href="https://stocknews.com/stock/QCOM/">QCOM</a>) before the next chip shortage. The stocks are positioned for significant growth in the near future.
The semiconductor industry is experiencing rapid expansion owing to technological transformations across sectors. Key technologies such as Artificial intelligence (AI), Machine Learning (ML), cloud computing, 5G networks, autonomous vehicles, and big data analytics that rely heavily on semiconductor components are driving the industry growth.
Due to such massive demands, a shortage of semiconductor chips is expected soon. According to a report by <a href="https://www.bain.com/insights/prepare-for-the-coming-ai-chip-shortage-tech-report-2024/">Bain and Company</a>, an AI-driven surge in demand for graphics processing units alone could increase total demand for certain components by 30% or more by 2026. That along with geopolitical tensions and surge in demand of AI-enabled devices could likely trigger the next chip shortage.
That being said, the Semiconductor Industry Association (SIA) reported that global semiconductor industry sales totaled <a href="https://www.semiconductors.org/global-semiconductor-sales-increase-18-3-in-q2-2024-compared-to-q2-2023-quarter-to-quarter-sales-up-6-5/">$149.9 billion</a> during the second quarter of 2024, an 18.3% increase compared to the second quarter of 2023. Sales in June 2024 were $50.0 billion, a 1.7% increase compared to May 2024.
Looking ahead to 2025, the World Semiconductor Trade Statistics (WSTS) forecasts <a href="https://www.wsts.org/esraCMS/extension/media/f/WST/6558/WSTS_FC-Release-2024_05.pdf">a 12.5% growth</a> in the global semiconductor market, reaching an estimated valuation of $687 billion. This growth is expected primarily by the Memory and Logic sectors, with significant increases projected.
Moreover, government initiatives are further boosting the sector's growth prospects. <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/">The CHIPS and Science Act</a> aims to strengthen U.S. semiconductor manufacturing, boost domestic production, and reduce supply chain vulnerabilities by investing in American chip-making capabilities.
Thus, by investing in these three stocks, one could capitalize on the current growth potential. As demand rises and technological advancements continue, these companies are well-positioned to benefit from the expanding semiconductor industry and are likely to deliver strong returns in the near future.
Considering these trends, let's analyze the fundamentals of three <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> stocks, beginning with #3.
Stock #3: Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>)
Headquartered in Hsinchu City, Taiwan, TSM manufactures, packages, tests, and sells integrated circuits and other semiconductor devices internationally. The company provides a range of wafer fabrication processes and also offers customer and engineering support services.
On August 20, ESMC, a joint venture between TSM, Robert Bosch GmbH, Infineon Technologies AG, and NXP Semiconductors N.V., <a href="https://pr.tsmc.com/english/news/3169">announced a ceremony</a> to mark the initial phase of land preparation for the joint venture's first semiconductor lab in Dresden, Germany.
With this new venture, TSM would be able to expand its market exposure and business operations.
TSM's net revenue increased 40.1% year-over-year to $20.82 billion for the fiscal 2024 second quarter that ended June 30. Its gross profit grew 37.6% from the year-ago value to $11.07 billion. The company's income from operations of $8.86 billion indicates growth of 41.9% from the prior year's quarter.
In addition, the company's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> and EPS rose 36.3% and 36.4% year-over-year to $7.66 billion and $0.30, respectively.
Analysts expect TSM's revenue for the fiscal third quarter ending in September 2024 to increase 38.1% year-over-year to $23.33 billion. Its EPS for the ongoing quarter is expected to grow 37.9% from the prior year's period to $1.78. Moreover, the company topped the consensus revenue and EPS estimates in all four trailing quarters.
TSM's shares have gained 32.1% over the past six months and 118.1% over the past year to close the last trading session at $188.19.
TSM's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has an A grade for Quality and a B for Sentiment. TSM is ranked #11 out of 91 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
In addition to the POWR Ratings we've stated above, we also have TSM's ratings for Growth, Momentum, Value, and Stability. Get all TSM ratings <a href="https://stocknews.com/stock/TSM/">here</a>.
Stock #2: Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO develops and commercializes technologies for wireless, wired, and power markets. The company's operations span three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG). It also offers foundry services for defense and aerospace clients.
On January 31, QRVO <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-acquire-anokiwave">announced a definitive agreement</a> to acquire Anokiwave, a supplier of high-performance silicon integrated circuits for intelligent active array antennas used in defense, SATCOM, and 5G applications. Anokiwave's high-frequency beamforming and IF-to-RF conversion ICs would complement QRVO's existing RF front-end portfolio.
The combination of QRVO's capabilities with Anokiwave's technology would enable QRVO to deliver highly integrated solutions and SiPs for defense, aerospace, and network infrastructure.
QRVO's revenue for the fiscal 2025 first quarter, which ended on June 29, 2024, increased 36.2% year-over-year to $886.67 million. Its non-GAAP operating income rose 110.1% year-over-year to $98.13 million.
Additionally, the company's non-GAAP net income amounted to $83.52 million, or $0.87 per share, up 148.5% and 155.9% year-over-year, respectively.
QRVO <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-announces-fiscal-2025-first-quarter-financial-results">exceeded its June quarterly guidance</a> for revenue, gross margin, and EPS. Looking forward, the company expects sequential increases for the same.
For the September 2024 quarter, QRVO projects revenue of approximately $1.025 billion, with a potential leeway of $25 million. Non-GAAP gross margin is expected to be between 46% and 47%, while non-GAAP diluted earnings per share are forecasted to be between $1.75 and $1.95.
Street expects QRVO's revenue and EPS for the next fiscal year ending in March 2026 to increase 8% and 28.3% year-over-year to $4.27 billion and $7.97, respectively. Moreover, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Shares of QRVO have gained 7.8% over the past year to close the last trading session at $104.05.
QRVO's promising outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
QRVO has a B grade for Growth, Sentiment, Value, and Quality. It is ranked #3 out of 91 stocks within the same industry.
Beyond what we stated above, we have also given QRVO grades for Momentum and Stability. Get all the QRVO's ratings <a href="https://stocknews.com/stock/QRVO/">here</a>.
Stock #1: QUALCOMM Incorporated (<a href="https://stocknews.com/stock/QCOM/">QCOM</a>)
QCOM develops and commercializes wireless technologies like 3G, 4G, and 5G, as well as high-performance computing and artificial intelligence. Its segments include Qualcomm CDMA Technologies; Qualcomm Technology Licensing; and Qualcomm Strategic Initiatives.
On September 11, QCOM's subsidiary Qualcomm Technologies, Inc. <a href="https://www.qualcomm.com/news/releases/2024/09/qualcomm--aramco-and-rdia-plan-design-in-saudi-arabia-startup-pr">announced the launch</a> of Design in Saudi Arabia (DISA) along with Aramco and Saudi Arabia's Research, Development, and Innovation Authority (RDIA).
With the help of QCOM's utilities, DISA is aimed at supporting startups that are adopting AI, the Internet of Things (IoT), and wireless technologies for industrial use cases. The development would help QCOM spread its business worldwide and gather more market exposure.
QCOM's revenues for the fiscal 2024 third quarter, which ended June 23, increased 11.2% year-over-year to $9.39 billion. The company reported a non-GAAP operating income of $3.02 billion, indicating a 19.7% growth from the prior year's quarter.
QCOM's non-GAAP net income came in at $2.65 billion, up 25.8% year-over-year, while its non-GAAP EPS grew 24.6% from the prior-year quarter to $2.33.
The consensus revenue and EPS estimates of $9.86 billion and $2.55 for the fiscal fourth quarter ending September 2024 reflect a rise of 13.8% and 26.1% year-over-year, respectively. Furthermore, the company topped the consensus revenue and EPS estimates in all of the four trailing quarters.
QCOM shares have surged 19.8% over the past nine months and 55.6% over the past year to close the last trading session at $171.78.
QCOM's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
QCOM has an A grade for Quality. It has topped the 91-stock Semiconductor &amp; Wireless Chip industry.
<a href="https://stocknews.com/stock/QCOM/">Click here</a> to see QCOM's ratings for Growth, Value, Momentum, Stability, and Sentiment.
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<hr />
TSM shares were trading at $186.68 per share on Thursday morning, up $4.33 (+2.37%). Year-to-date, TSM has gained 81.05%, versus a 21.87% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/tsm-qcom-qrvo-3-semiconductor-stocks-to-buy-before-the-next-chip-shortage/>3 Semiconductor Stocks to Buy Before the Next Chip Shortage</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Semiconductor Stocks to Buy Before the Next Chip Shortage

Stocks with the highest consensus of expected ROE growth, Goldman Sachs says

Nvidia, Broadcom among semis to see 'greatest expansion' by fund managers: BofA

Intel, Nvidia, Micron lead chip sell-off as geopolitical tensions increase

With increased innovation and investments, the 5G sector is shaping the next generation of connectivity, outperforming its predecessors by miles. Keeping that in mind, it could be wise for investors to add Hewlett Packard (HPE), Qorvo (QRVO), and Aviat Networks (AVNW) to their portfolios as the 5G rollout accelerates. Read on… The telecommunication industry is driving rapid innovation, with 5G technology poised to be a major breakthrough in 2024. As the next evolution of networks, 5G offers faster speeds, lower latency, and a range of new applications that promise to revolutionize numerous sectors, enhancing productivity and connectivity.
Thus, investing in companies leveraging 5G growth, such as Hewlett Packard Enterprise Company (<a href="https://stocknews.com/stock/HPE/">HPE</a>), Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>), and Aviat Networks, Inc. (<a href="https://stocknews.com/stock/AVNW/">AVNW</a>), may be a strategic move. These companies stand to benefit significantly as 5G expands, offering increased opportunities in various industries reliant on advanced networks.
5G's transformative potential has already made it the fastest-growing mobile broadband technology, <a href="https://data.gsmaintelligence.com/api-web/v2/research-file-download?id=79791087&amp;file=210224-The-State-of-5G-2024.pdf">surpassing 1.5 billion connections</a> by 2023, just four years after its launch. The rapid adoption highlights its impact across industries, setting a strong foundation for future technological advancements.
As more devices are designed to operate on 5G, the demand for networks is skyrocketing. In North America, major telecom companies now offer 5G, covering <a href="https://www.ibm.com/think/insights/5g-future">over 200 million homes and businesses</a>, with projections suggesting this number will double within the next four years.
A robust digital infrastructure is crucial for national competitiveness, and it will become even more critical moving forward. Policymakers are actively supporting these advancements to ensure their countries remain leaders in the global market, particularly as 5G continues to expand.
The Federal Communications Commission (FCC) <a href="https://www.fcc.gov/5G">plans to allocate $9 billion</a> through the Universal Service Fund to enhance 5G wireless services in rural America. The funding aims to bridge the digital divide and ensure broader access to cutting-edge technology nationwide.
Looking forward, according to a report published by Grand View Research, the global 5G services market is expected to grow at <a href="https://www.grandviewresearch.com/industry-analysis/5g-services-market">a CAGR of 59.4%</a> by 2030, reaching an impressive $2.21 trillion. This growth underscores 5G's profound economic and technological impact across the globe.
Considering these positive trends, let us dive deep into the fundamentals of three 5G stocks, starting with #3.
Stock #3: Hewlett Packard Enterprise Company (<a href="https://stocknews.com/stock/HPE/">HPE</a>)
HPE is a global technology company that offers general-purpose servers, hybrid cloud solutions, wired and wireless networks, and flexible investment solutions for technology deployment models. Its segments include Server; Hybrid Cloud; Intelligent Edge; Financial Services; and Corporate Investments and Other.
On September 16, HPE announced <a href="https://www.hpe.com/us/en/newsroom/press-release/2024/09/barclays-doubles-private-cloud-estate-with-hpe-greenlake-cloud.html">a new private cloud services deal</a> with Barclays PLC (<a href="https://stocknews.com/stock/BCS/">BCS</a>), the British universal bank, to include HPE GreenLake Cloud in BCS' hybrid cloud strategy. Through this partnership, HPE aims to expand its global client base, enhancing its international presence and driving business growth.
On September 5, HPE revealed that <a href="https://www.hpe.com/us/en/newsroom/press-release/2024/09/hewlett-packard-enterprise-introduces-one-click-deploy-ai-applications-in-hpe-private-cloud-ai.html">its Private Cloud AI</a> is now available to order, alongside new solution accelerators designed to streamline AI applications. As AI adoption accelerates, these innovations will strengthen HPE's position in the market, boosting its growth prospects and expanding its market influence.
During the fiscal 2024 third quarter that ended July 31, HPE's net revenue increased 10.1% year-over-year to $7.71 billion. Its non-GAAP earnings from operations grew 7.4% from the year-ago value to $771 million.
In addition, HPE's non-GAAP net earnings and non-GAAP EPS increased 3.4% and 2% from the prior year's period to $661 million and $0.50, respectively.
Analysts expect HPE's revenue for the fiscal fourth quarter ending in October 2024 to increase 12.4% year-over-year to $8.26 billion. Its <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> for the ongoing quarter is expected to grow 6.8% year-over-year to $0.56. Moreover, the company surpassed the consensus EPS estimates in all four trailing quarters.
Shares of HPE have gained 7.1% over the past five days to close the last trading session at $17.23.
HPE's sound fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
HPE has an A grade for Value and a B grade for Sentiment. Within the <a href="https://stocknews.com/category/technology-communication-networking/">Technology – Communication/Networking</a> industry, HPE is ranked #9 of 47 stocks.
<a href="https://stocknews.com/stock/HPE/">Click here</a> to access additional HPE ratings for Momentum, Growth, Quality, and Stability.
Stock #2: Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO develops and commercializes technologies for wireless, wired, and power markets. The company's operations span three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG). It also offers foundry services for defense and aerospace clients.
On January 31, QRVO <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-acquire-anokiwave">announced a definitive agreement</a> to acquire Anokiwave, a supplier of high-performance silicon integrated circuits for intelligent active array antennas used in defense, SATCOM, and 5G applications. Anokiwave's high-frequency beamforming and IF-to-RF conversion ICs would complement QRVO's existing RF front-end portfolio.
The combination of QRVO's unique capabilities with Anokiwave's technology will enable QRVO to deliver highly integrated solutions and SiPs for defense, aerospace, and network infrastructure. The acquisition would strengthen QRVO's ability to provide comprehensive solutions in these key sectors.
QRVO's revenue for the fiscal 2025 first quarter, which ended on June 29, 2024, increased 36.2% year-over-year to $886.67 million. Its non-GAAP operating income rose 110.1% year-over-year to $98.13 million.
Additionally, the company's non-GAAP net income amounted to $83.52 million, or $0.87 per share, up 148.5% and 155.9% year-over-year, respectively. QRVO <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-announces-fiscal-2025-first-quarter-financial-results">exceeded its June quarterly guidance</a> for revenue, gross margin, and EPS. The company is poised for sequential increases in revenue, gross margin, and EPS for the September quarter, signaling steady growth.
For the September 2024 quarter, QRVO projects revenue of approximately $1.025 billion, with a potential variance of $25 million. Non-GAAP gross margin is expected to be between 46% and 47%, while non-GAAP diluted earnings per share are forecasted to be between $1.75 and $1.95.
Street expects QRVO's revenue and EPS for the next fiscal year ending in March 2026 to increase 8% and 28.3% year-over-year to $4.27 billion and $7.97, respectively. Moreover, the company has topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Shares of HPE have gained 4.7% over the past year to close the last trading session at $100.46.
QRVO's promising outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
QRVO has a B grade for Growth, Sentiment, and Quality. It is ranked #4 out of 91 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
Beyond what we stated above, we have also given QRVO grades for Value, Momentum, and Stability. Get all the QRVO's ratings <a href="https://stocknews.com/stock/QRVO/">here</a>.
Stock #1: Aviat Networks, Inc. (<a href="https://stocknews.com/stock/AVNW/">AVNW</a>)
AVNW provides microwave and wireless access networking solutions. The company offers a range of products, including outdoor, indoor, and split-mount radios, microwave routers, switches, and trunking systems. It also delivers private LTE, virtual fiber, element management solutions, and hosted software products.
On July 2, AVNW <a href="https://investors.aviatnetworks.com/news-releases/news-release-details/aviat-networks-acquires-4rf-leading-provider-industrial-wireless">announced its acquisition</a> of 4RF Limited, a provider of industrial wireless access solutions. The acquisition includes 4RF's narrowband radios, private LTE, and 5G routers. 4RF's established presence across 300 critical infrastructure customers in 160 countries complements AVNW's existing portfolio.
The two companies' distinct customer bases, with around 90% non-overlapping, create significant cross-selling opportunities. This synergy can drive AVNW's expansion by reaching new markets and boosting revenue through broader product offerings.
On January 8, AVNW <a href="https://investors.aviatnetworks.com/news-releases/news-release-details/smartfren-telecom-and-aviat-establish-strategic-collaboration">announced a strategic collaboration</a> with PT Smartfren Telecom, Indonesia's only fully 4G-based telecommunication provider. The partnership aims to deliver high-speed wireless connectivity and digitalization services, offering both indoor and outdoor private wireless networks.
With approximately 36 million subscribers and being one of the top 10 largest operators in Southeast Asia, Smartfren offers a strong foothold in the region. By enhancing AVNW's competitive positioning through joint sales, solution engineering, and customer support, the collaboration sets the stage for deeper market penetration and customer growth.
During the fiscal 2024 third quarter that ended March 29, AVNW's revenue increased 33.7% year-over-year to $111.61 million. Its non-GAAP operating income grew 16.2% from the year-ago value to $10.80 million. Plus, the company's adjusted EBITDA rose 11.1% from the prior year's period to $12.05 million.
In addition, AVNW's non-GAAP net income increased 5.7% year-over-year to $9.38 million, while non-GAAP net income per share stood at $0.73.
The consensus revenue and EPS estimates of $484.16 million and $3.47 reflect an increase of 18.9% and 6.2% year-over-year, respectively. Moreover, the company surpassed the consensus EPS estimates in each of the four trailing quarters.
Shares of AVNW have gained 3.5% intra-day to close the last trading session at $22.09.
It's no surprise that AVNW has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has an A grade for Value and a B grade for Growth. Within the Technology – Communication/Networking industry, AVNW is ranked #6 of 47 stocks.
<a href="https://stocknews.com/stock/AVNW/">Click here</a> to access additional ratings of AVNW for Momentum, Sentiment, Quality, and Stability.
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<hr />
HPE shares rose $0.66 (+3.83%) in premarket trading Tuesday. Year-to-date, HPE has gained 2.83%, versus a 19.17% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/hpe-qrvo-avnw-bcs-3-stocks-to-buy-as-the-5g-rollout-accelerates/>3 Stocks to Buy as the 5G Rollout Accelerates</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Stocks to Buy as the 5G Rollout Accelerates

The semiconductor sector is flourishing, with government support and solid consumption boosting industry confidence. As technologies and integration activities improve, high-growth semiconductor stocks such as Silicon Motion Technology (SIMO), SMART Global Holdings (SGH), and Qorvo (QRVO) could be ideal buys now and beyond. Read more... As consumer electronics consumption increases exponentially, the demand for semiconductors is boosting. The rising application of chips across many industries has further widened its scope and possibilities. Also, the growing integration across applications and technological advancements is booming the semiconductor industry.
Given this backdrop, it could be wise to buy high-growth semiconductor stocks Silicon Motion Technology Corporation (<a href="https://stocknews.com/stock/SIMO/">SIMO</a>), SMART Global Holdings, Inc. (<a href="https://stocknews.com/stock/SGH/">SGH</a>), and Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>) for favorable returns.
The semiconductor industry is expanding rapidly with the increasing chip demand across various industries like consumer electronics, transportation, medical applications, and industrial automation. Also, the swift technological transformation has led to increased AI chips, high-bandwidth memory, and high-performance chip requirements.
The <a href="https://www.semiconductors.org/global-semiconductor-sales-increase-18-3-in-q2-2024-compared-to-q2-2023-quarter-to-quarter-sales-up-6-5/">SIA reported global semiconductor industry sales</a> of $149.90 billion for the second quarter of 2024, indicating an increase of 18.3% from the second quarter of 2023 and 6.5% up from the first quarter of 2024. Sales for the month of June 2024 were $50 billion, up 1.7% compared to May 2024. These statistics project an uptrend in chip sales.
Further, the establishment of the <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/">CHIPS and Science Act</a> has strengthened the U.S. semiconductor market, with its objectives to increase chip manufacturing, boost domestic production, and reduce supply chain vulnerabilities by investing in American chip-making capabilities.
The worldwide <a href="https://www.statista.com/outlook/tmo/semiconductors/worldwide">revenue in the semiconductors market</a> is expected to reach $607.40 billion in 2024. Further, driven by growing product use in consumer electronics and Integrated Circuits Integration, the global semiconductor market is anticipated to grow at a notable <a href="https://www.fortunebusinessinsights.com/semiconductor-market-102365">CAGR of 14.9%</a>, expanding to $2.06 trillion by 2032.
In global comparison, the U.S. semiconductor market is expected to reach a value of $258.30 billion in 2032. In the forecast period, the global market will benefit from the development of artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML) technologies.
Considering these encouraging industry trends, let's delve deeper into the fundamentals of top <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> stocks, beginning with the third choice.
Stock #3: Silicon Motion Technology Corporation (<a href="https://stocknews.com/stock/SIMO/">SIMO</a>)
Headquartered in Hong Kong, SIMO designs, develops, and markets NAND flash controllers for solid-state storage devices internationally. It provides controllers for computing-grade solid state drives (SSDs), for PCs and other client devices, and enterprise-grade SSDs used in data centers.
SIMO's <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> and EBITDA have grown at respective CAGRs of 11.2% and 3.6% over the past five years. The company's EBIT has increased by 2.7% over the same timeframe, while its tangible book value and total assets have improved at CAGRs of 7.9% and 8.2%, respectively.
On August 7, SIMO launched SM2508, the best power-efficiency PCIe Gen5 NVMe 2.0 client SSD controller for AI PCs and gaming consoles. The Gen5 SSD controller is designed to cater to the demands of today's AI-capable PCs, delivering high performance and power efficiency to meet the evolving AI PC standards.
On June 3, SIMO launched the SM770 USB display interface SoC for USB docking stations to simplify connectivity for multiple 4K Ultra-High Definition Displays with low latency and low power consumption. The SM770 supports up to three 4K 60Hz UHD displays and up to 144Hz display, allowing flexible connections with PC notebooks.
During the second quarter that ended June 30, 2024, SIMO's net sales rose 50.1% year-over-year to $210.67 million. Its non-GAAP gross profit grew 62.2% from the year-ago value to $96.84 million. The company's non-GAAP operating profit of $34.71 million reflects growth of 197.1% year-over-year.
In addition, the company's non-GAAP net income and earnings per ADS totaled $32.46 million and $0.96, up 157.9% and 152.6% from the prior year's quarter, respectively.
Street expects SIMO's revenue for the third quarter (ended September 2024) to increase 21.4% year-over-year to $209.16 million. Its EPS for the same quarter is expected to grow 35% year-over-year to $0.85. Also, the company has topped the consensus EPS and revenue estimates in each of the four trailing quarters, which is impressive.
Shares of SIMO have surged 16.7% over the past year to close the last trading session at $60.08.
SIMO's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
SIMO has an A grade for Value. It also has a B grade for Growth. It is ranked #9 out of 91 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
In addition to the POWR Ratings we've stated above, we also have SIMO's ratings for Momentum, Sentiment, Stability, and Quality. Get all SIMO ratings <a href="https://stocknews.com/stock/SIMO/">here</a>.
Stock #2: SMART Global Holdings, Inc. (<a href="https://stocknews.com/stock/SGH/">SGH</a>)
SGH engages in the designing and development of enterprise solutions internationally. The company operates through Memory Solutions; Intelligent Platform Solutions; and LED Solutions segments.
SGH's EBITDA has increased at a CAGR of 0.6% over the past three years. The company's tangible book value has increased 13.5% over the same timeframe, while its total assets and levered free cash flow have improved at CAGRs of 9.2% and 67.7%, respectively.
On September 17, SGH's company SMART Modular Technologies, Inc. introduced a proprietary technology to mitigate the adverse impact of single event upsets in high-reliability flash-memory-based systems. Its MP3000 NVMe SSD products with SEU mitigation reduce annual failure rates from 17.5k/Mu (million units) to below 10/Mu.
The new technology saves a wholesome amount of money in potential service costs by helping to ensure hundreds of hours of uninterrupted uptime, which is especially important for tough-to-repair remote deployments.
On September 10, SGH's company Stratus Technologies Inc. expanded its Linux capabilities for its 12th generation of the ftServer platform. The Stratus ftServer&#xAE; family of computing platforms addresses a critical market need for optionality and openness in virtualization while continuing to provide industry-leading fault-tolerant computing capabilities.
For the third quarter that ended May 31, 2024, SGH reported total net sales of $300.58 million, up 5.5% from the prior quarter. Its non-GAAP gross profit grew 8.1% from the quarter-ago value to $96.96 million. The company's non-GAAP operating income of $33.32 million indicates growth of 25.7% from the prior quarter.
In addition, non-GAAP net income attributable to SGH and EPS came in at $20.22 million and $0.37, up 43% and 37% from the prior quarter, respectively.
Street expects SGH's revenue and EPS for the first quarter (ending November 2024) to increase 22.2% and 72.7% year-over-year to $335 million and $0.41, respectively. Furthermore, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
SGH's stock has gained 3.5% over the past month to close the last trading session at $20.54.
SGH's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Value, and Quality. SGH is ranked #5 among 91 stocks in the Semiconductor &amp; Wireless Chip industry.
<a href="https://stocknews.com/stock/SGH/">Click here</a> to access SGH's ratings for Stability, Sentiment, and Momentum.
Stock #1: Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO engages in developing and commercializing technologies and products for wireless, wired, and power markets globally. The company operates through three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG).
QRVO's revenue and EBIT have grown at respective CAGRs of 4.8% and 2% over the past five years. The company's normalized net income has increased by 2.8% over the same timeframe, while its total assets and levered free cash flow have improved at CAGRs of 1.7% and 0.3%, respectively.
On January 31, QRVO entered a definitive agreement to acquire Anokiwave, a supplier of high-performance silicon integrated circuits for intelligent active array antennas. Anokiwave's high-frequency beamforming and IF-to-RF conversion ICs complement QRVO's existing RF front-end portfolio.
The strategic acquisition bodes well with QRVO's operations. Anokiwave's solutions expanded QRVO's addressable opportunities in D&amp;A, SATCOM, and 5G Markets.
QRVO's total revenue increased 36.2% year-over-year to $886.67 million during the first quarter that ended June 29, 2024. Its non-GAAP gross profit rose 29.8% year-over-year to $362.66 million. The company's non-GAAP operating income of $98.12 million indicates growth of 110% from the prior year's quarter.
Furthermore, the company's non-GAAP net income increased 148.7% and 155.9% from the year-ago value to $83.52 million and $0.87 per share, respectively.
According to QRVO's current outlook for the September 2024 quarter, its quarterly revenue is expected to be $1.02 billion, plus or minus $25 million. And its non-GAAP earnings per share is expected between $1.75 and $1.95.
Analysts expect QRVO's revenue for the fourth quarter (ending March 2025) to increase 2.9% year-over-year to $968.46 million, and its EPS is expected to grow 6.8% year-over-year to $1.48. Moreover, the company has topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
QRVO's stock has soared 7.4% over the past year to close the last trading session at $102.15.
QRVO's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Quality, Value, and Sentiment. Within the same industry, QRVO is ranked #3 among 91 stocks.
<a href="https://stocknews.com/stock/QRVO/">Click here</a> to access additional ratings of QRVO for Stability and Momentum.
What To Do Next?
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QRVO shares were trading at $100.42 per share on Thursday afternoon, down $1.73 (-1.69%). Year-to-date, QRVO has declined -10.82%, versus a 20.29% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/qrvo-simo-sgh-3-high-growth-semiconductor-stocks-to-buy-and-hold/>3 High Growth Semiconductor Stocks to Buy and Hold</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High Growth Semiconductor Stocks to Buy and Hold

Semiconductors Winners And Losers As Of Q4 2024

AAPL

ACGL

ADBE

ALLY

AMAT

AMZN

ANET

APTV

ASML

AVGO

AVNW

AVTR

BALL

BIIB

BURL

CDNS

CTRA

DASH

ENTG

EWBC

FSLR

FTNT

GILD

GLPI

HBAN

HUBS

INTC

KLAC

LRCX

LSCC

MCHP

MKSI

MPWR

MRVL

NFLX

NWSA

NXPI

OLED

ONTO

QCOM

QRVO

REGN

SIMO

SMCI

SNPS

SOXX

SPOT

SWKS

TMUS

TRGP

TSLA

UBER

WELL

ZBRA

Press Releases

Qorvo® to Acquire Anokiwave

Qorvo® to Webcast Quarterly Earnings Conference Call on May 1, 2024

Qorvo® Announces Date of 2024 Investor Day

Earnings

Qorvo® Announces Fiscal 2024 Fourth Quarter Financial Results

Qorvo Announces Verdict and Damage Award in Litigation Versus Akoustis

Qorvo® To Webcast Investor Day Presentation on Tuesday, June 11, 2024

Cambridge GaN Devices to Bring GaN Benefits to Motor Control

Qorvo® to Webcast Quarterly Earnings Conference Call  on July 30, 2024

Qorvo® Announces Fiscal 2025 First Quarter Financial Results

Qorvo® to Present at the Goldman Sachs Communacopia + Technology Conference

Analog Devices

Astera Labs

Advanced Micro Devices, Inc. - Common Stock

Advanced Micro Devices

Arm Holdings plc - American Depositary Shares

ARM Holdings

ASE Technology Holding Co., Ltd. American Depositary Shares (each representing Two Common Shares)

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