Early Bird Prime for June 23, 2024
Semiconductor stocks are having a party in 2024, and it seems like everyone’s invited. Thanks to the AI boom, the sector is riding high.
The iShares Semiconductor ETF, which tracks the sector, is up 34% this year. If you look at the last 12 months, it’s up 52%.
But here’s the catch: most semiconductor stocks have already had their moment in the sun. They’ve experienced massive gains over the past year, and now they’re expensive for investors. Overvalued and pricey, they’re not exactly the bargains you’d hope to find in the stock market’s clearance aisle.
However, there’s still one semiconductor stock that presents a potentially excellent value. This stock is:
Still low cost
Room to grow
High growth potential
Good price-to-earnings ratio
Good dividend yield.
What excellent stock pick for 2024 fits this description? Well, the stock is:
