Technology Stocks : Wennerstrom Semi Equipment Analysis
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To: Donald Wennerstrom who wrote (78378)1/2/2018 2:31:36 PM
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Tech Trader Daily: Micron, Broadcom, Semis Gain Amidst Upbeat November Data
January 02, 2018
01:02 PM ET

Chip stocks are having a healthy start to the new year following data from the industry trade group, the Semiconductor Industry Association, that showed a slightly better performance for the group in November than is common for this time of the year.

Sales in the month rose 23.4% from the prior-year period, according to the SIA, even higher than the 21.9% rise in October. Stacy Rasgon of Bernstein Research notes that the month-to-month rise, which was 1.8%, was better than the average result for November of a 2% decline.

Areas such as "logic" chips and DRAM were better than normal, notes Rasgon, while sales of NAND chips and microprocessors were about in line with normal patterns.

Rasgon makes no judgment about the numbers, but Wells Fargo's David Wong deems this a "solid exit" for 2017.

He notes that while integrated circuit sales were up 11% in November, DRAM chip sales surged by 72%, and NAND flash saw a 46% jump in sales, leading him to conclude "growth in ICs excluding memory is stabilizing in the high single digit to low double digit percent range." DRAM prices were on the rise, in terms of "price per bit," while prices for NAND fell.

Overall, Wong rates the market "Market Weight," but he's enthusiastic about a few names, including Intel ( INTC), AMD ( AMD), Applied Materials ( AMAT), Skyworks Solutions ( SWKS), and Microsemi ( MSCC).

Chip names are on the march this afternoon, with Broadcom ( AVGO) up $7.52, or 3%, at $265.42, Micron Technology ( MU) up $1.89, or almost 5%, at $43.01, and Intel up 56 cents, or 1%, at $46.72, to name just a few.
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