You know what is tiresome? The temporary decline of semis for no real reason just causes such angst as opposed to buying.
Take Advanced Micro (AMD) . This one has wandered in the wilderness for months as Intel’s (INTC) CEO Pat Gelsinger talks a big game about ending the reign of upstart. It doesn’t matter that CEO Lisa Su has a monster lead on Intel now. Pat loves to say that Intel’s back and we want that. The fact is, though, that AMD is still the leader and Su is not going to fight back with words, she is going to fight back with chips.
She did give an interview this week where she talked about how well they were doing and acknowledged the chip shortage. I thought the stock should go up on the story and instead it got hammered. Finally we are getting nervous about the Xilinx approval. We have been waiting and waiting.
All that amounts to a stalled stock with a downward bias.
Or how about Texas Instruments (TXN) and Analog Devices (ADI) , two great firms that have always had fits and starts moves. Each one is harrowing but each one has to be bought.
I can’t tell you how many times I have heard that Broadcom (AVGO) will disappoint only to watch it beat the numbers handily.
Or Marvell Tech (MRVL) . Here’s one that likes to run into the quarter and then sell down when it reports. Fortunately it didn’t fall flat this time but that’s the first time I have seen it hold.
The only one that doesn’t act terribly is Nvidia (NVDA) but need I remind you that it was stalled for ages, too.
This fabulous group is a ball of confusion until you look where they come from.
(AMD, AVGO, MRVL, and NVDA are holdings in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these stocks? Learn more now.)
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