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Chip stocks are all down, investment banks: semiconductor revival may not happen this year

Release on : Mar 27, 2019

It is expected that chip sales will be revived in the second half of the year, but Wall Street investment banker Bernstein has a different view and downgrades the ratings of Texas Instruments and Analog Devices. Affected by this news, the US semiconductor giant Texas Instruments (TXN-US) fell sharply, once hit a low of 106.53 US dollars per share, so far this year has risen about 14%. After Philadelphia Semiconductor opened higher, the shocks went down. US stocks traded on Monday (25th) intraday trading hours, Texas Instruments led chip companies collectively killed, Micron (MU-US), Nvidia (NVDA-US), NXP (NXPI-US) fell more than 2%, TSMC ADR (TSM) -US) Intel (INTC-US) fell more than 1%.

Sterling Rasgon, an analyst at Wall Street investment bank Bernstein, downgraded Texas Instruments and Analog Devices from “outperform” to “conformity to the market”, arguing that this year’s chip recovery may not happen this year. StacyRasgon said: "Because inventory is still increasing, higher expectations and less favorable stock valuations, we are increasingly worried about the chip industry environment in the second half of 2019, so in the recent round of Texas Instruments and Adeno Semiconductor After the rise, choose to sell stocks on rallies and wait and see.” StacyRasgon said: “We will not convince anyone to give up any of the two companies for a long time, but we may be more willing to consider the broader context. Put new money into other areas with more valuations.” However, Rasgon reiterated that its target price for Texas Instruments is $115, which is equivalent to a 7% upside from the current share price.