The semiconductor market continues to get hammered due to the fear of consumer spending decreasing. Today's video focuses on Advanced Micro Devices (AMD 1.36%), Nvidia (NVDA 3.46%), Qualcomm (QCOM -0.65%), and Taiwan Semiconductor Manufacturing (TSM 3.11%), four stocks on my watchlist this week. Here are some highlights.
- Taiwan Semiconductor reported its earnings on April 14, sharing tremendous insight into the semiconductor market. The company grew its revenue by 36% year over year, driven by its HPC and automotive market demand. The HPC market includes chips used in data centers and other cloud providers. While consumer market spending might be decreasing, business growth in technological expenditures is still rising.
- AMD and Nvidia are two popular growth stocks that have dropped over 40% from 52-week highs. While both companies provide solutions for consumers, the growth from data center solutions could be enough to offset some of the consumer lag.
- Qualcomm currently makes most of its revenue from handheld devices, a huge consumer product area. Qualcomm's dependency on consumer spending could cause a bigger hit to it than to some other players on this list. At the same time, Qualcomm is not valued as highly as other growth stocks, and it is also increasing its solutions for the automotive market.
*Stock prices used are the closing prices of April 22, 2022. The video was published on April 24, 2022.
