Chip stocks, incl Nvidia company (NASDAQ: NVDA), Advanced Micro Devices Company (NASDAQ:AMD), Broadcom Company (NASDAQ:AFGO), Micron Technology Corporation (NASDAQ:MO), Taiwan Semiconductor Manufacturing Company (NYSE: TSM), Intel Corporation (NASDAQ:INTEC), Monolithic Power Systems, Inc (NASDAQ:MPWR), Marvell Technology Company (NASDAQ: MRVL) and On the semiconductor company (NASDAQ:ON), is trading higher on Friday.
This step is in empathy with Western Digital Corporation (NASDAQ:WDC) rises after its upbeat quarterly print.
Western Digital reported Thursday Earnings per share for the first quarter With a value of $1.78, which beats the analyst consensus of $1.73. Quarterly revenue of $4.09 billion lagged consensus estimates of $4.12 billion compared to $2.75 billion a year ago.
Read also: The analyst says competition between Nvidia and Intel threatens AMD’s growth
Western Digital expects second-quarter revenue to range between $4.2 billion and $4.4 billion, versus an estimate of $4.35 billion, and adjusted earnings per share of $1.75 to $2.05, versus an estimate of $1.95.
Keybank Analyst John Vinh Recently marked for mixed performance In the semiconductor supply chain, reviewing several estimates and price targets. Despite weakness in analog markets, it pointed to signs of recovery in the automotive sector and strong demand for traditional servers and AI, with Nvidia’s Blackwell launch on track for Q4.
I reduced it Qualcomm a company (NASDAQ: QCOM) and Synapses a company (NASDAQ:SYNA) was added to the sector weight, indicating Qualcomm’s loss of market share to MediaTek due to price competition and Synaptics’ challenges in the Internet of Things against local competitor HiSilicon.
Nvidia and AMD were highlighted favorably due to strong demand for AI and servers, while Micron, Monolithic Power, Marvell and Intel face headwinds from market share losses and intensifying competition.
Stock research can be a valuable source of information to learn about a company’s fundamentals. Analysts create financial models based on fundamentals and expected future earnings of a company to arrive at a target price and recommendation for a stock.
The average one-year price target for Western Digital shares is $92.07, which represents a projected upside of 27.01%.
Due to differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations for Western Digital, while 12 analysts have bullish ratings. The high street price target from Rosenblatt is $115.0, while the low street price from Susquehanna is $75.0.
Price action: At last check on Friday, NVDA stock was up 2.13% to $143.33. AMD rose 3.09%, AVGO rose 2.47%, MU rose 2.80%, TSM rose 2.64%, ON rose 3.17%, and INTC rose 3.69%.
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