It’s that time of the year again. No, I’m not talking about all those upcoming holiday bills due. I’m talking about the CES show in Las Vegas, where attendees pack into multiple convention halls across Sin City to view the latest gadgets and gizmos.
Of course, silicon semiconductors power all of these devices, giving investors a reminder that the modern world wouldn’t work without the hard work of many chipmaking companies.
A number of stocks in this area are on the move in a big way. Here are five to buy:
Micron Technology (MU)
Shares of Micron Technology (NASDAQ:MU) are exploding higher, rising nearly 9% yesterday to push out of a two-month consolidation range. The move returns shares to levels not seen since the summer of 2018. The catalyst was an upgrade by analysts at Cowen, thanks in part to Micron’s improved cost position vs. peers.
The company will next report results on March 18 after the close. Analysts are looking for earnings of 37 cents per share on revenues of $4.7 billion.
Qualcomm (NASDAQ:QCOM) shares are enjoying another bounce off of uptrend support going back to the April lows, extending a lift up and out of a consolidation range going back to 2014. Back in December, the company noted a belief that high-end Android smartphones would use its 5G modem chips in the coming year as new wireless technology continues to roll out.
QCOM is expected to report results on Feb. 5 after the close. Analysts are looking for earnings of 86 cents per share on revenues of $4.85 billion.
Western Digital (WDC)
Western Digital (NASDAQ:WDC) shares are lifting up and away from their 200-week moving average, returning to levels seen in the summer of 2018. This marks roughly a 50% retracement from the epic near-70% fall from grace suffered from the early 2018 peak.
WDC will next report results on Jan. 23 after the close. Analysts are looking for earnings of 57 cents per share on revenues of $4.2 billion.
Texas Instruments (TXN)Texas Instruments (NASDAQ:TXN) shares are challenging their October high, setting up a push to fresh records after finding support near its 200-day moving average. The company suffered a pullback late last year on worries over an auto sector slowdown, but those concerns have now faded.
TXN will next report results on Jan. 22 after the close. Analysts are looking for earnings of $1.05 per share on revenues of $3.21 billion.
Applied Materials (AMAT)
Shares of Applied Materials (NASDAQ:AMAT) are enjoying a steady rally above its 50-day moving average and looks ready to break clear of the prior record high set in early 2018 near $60.
The company will next report results on Feb. 13 after the close. Analysts are looking for earnings of 92 cents per share on revenues of $4.10 billion. Barron’s recently published a positive story on the stock, highlighting its growth prospects and value relative to the S&P 500.
As of this writing, William Roth did not hold any of the aforementioned securities.