Reply To: Traders Market Weekly: Big Tech Earnings and Global PMI

#51518
Truman
Participant

Other names that Wells Fargo viewed favorably were Marvell Technology (NASDAQ:MRVL), Cadence Design Systems (CDNS), Synopsys (SNPS), NXP Semiconductors (NXPI), Wolfspeed (WOLF), Ambarella (AMBA), Allegro MicroSystems (ALGM) and Rambus (RMBS).

Semiconductor companies that are tied to the smartphone space will likely underperform in a “risk-on type market,” with the firm reiterating its underweight rating on Qualcomm (QCOM).