5 Semiconductor Stocks To Watch During A Potential Tech Pullback

In this article, we will be taking a look at 5 semiconductor stocks to watch during a potential tech pullback. To see more of these stocks, you can go directly to see the 10 Semiconductor Stocks To Watch During A Potential Tech Pullback.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 132

Upside Potential: 13.29%

NVIDIA Corporation (NASDAQ:NVDA) is a leading semiconductor company based in Santa Clara, California.

Mizuho’s Vijay Rakesh maintains a Buy rating and a $400 price target on NVIDIA Corporation (NASDAQ:NVDA) as of June 22.

In the first quarter, 132 hedge funds were long NVIDIA Corporation (NASDAQ:NVDA). Their total stake value was $12.3 billion.

Here’s what The Ithaka Group said about NVIDIA Corporation (NASDAQ:NVDA) in its first-quarter 2023 investor letter:

“NVIDIA Corporation (NASDAQ:NVDA) is the market leader in visual computing through the production of high-performance graphics processing units (GPUs). The company targets four large and growing markets: Gaming, Professional Visualization, Data Center, and Automotive. NVIDIA’s products have the potential to lead and disrupt some of the most exciting areas of computing, including: data center acceleration, artifi cial intelligence, machine learning, and autonomous driving. The stock’s appreciation in the quarter was twofold. First, the stock benefi ted from tremendous excitement surrounding the release of more advanced chatbots, specifi cally ChatGPT, and the likelihood this would necessitate the purchase of a large number of Nvidia’s products far into the future. Second, Nvidia posted a clean beat and raise quarter in mid-February, with investors becoming increasingly convinced the company and its suppliers are adequately working through the build up in channel inventories, which is reducing overall fears of ongoing inventory write-offs.”