Chip shares continue their sector-wide slide, following a tech sell-off triggered by disappointing reports from some Magnificent 7 companies. Moor Insights & plan founder, top executive, and chief analyst Patrick Moorhead joins Morning Brief to discuss the semiconductor field’s current state.
Moorhead observes that due to the chip sector’s strong momentum over the past year, “any hiccup, any rumor of something” can trigger a stock decline. He suggests this downturn presents an opportunity for investors to identify potential high-development companies beyond field giants like Nvidia (NVDA), Broadcom (AVGO), and Intel (INTC). Moorhead advises investors to “look at a mid-term and even… long-term approach of where those shares are going or could go,” highlighting companies such as Qualcomm (QCOM).
Regarding field trends, Moorhead notes that many companies are pivoting towards AI, often at the expense of other initiatives. “They want their IT groups to pivot to generative AI. And a lot of this is about FOMO, it’s the fear of missing out,” he explains. This shift in focus is creating a divide in the sector: “That’s why you see companies that aren’t engaged in the generative AI wave are seeing very mixed results.”
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