Semiconductor stocks outperformed the market handily this year and one Wall Street analyst believes several companies in the sector will continue to surge higher next year.
The iShares PHLX Semiconductor ETF has rallied 37 percent year to date versus the S&P 500’s 18 percent gain through Friday.
“Looking ahead, we expect the semiconductor industry to continue exhibiting relatively stable and less cyclical growth,” JPMorgan analyst Harlan Sur wrote in a note to clients Monday. “In addition to further industry growth in 2018, we expect M&A/consolidation and aggressive capital returns will likely drive valuation support in our stocks through the year.”
Here are four overweight-rated semiconductor stocks recommended by JPMorgan, along with the firm’s current price targets.
Source: Tech CNBC
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