Barclays picks favorites for the '2nd Wave of AI', AMD leads

Camtek

16/01/2024 15:15

** For the accelerator market, which has been dominated by
Nvidia  NVDA.O , Barclays sees 2024 as the year AI begins to
open up the ecosystem to more players
    ** "By no means discounting the lead that NVDA has but the
desire to have a second source will overwhelm difficulties for
software ecosystem," brokerage says
    ** To overcome software barrier from NVDA, hyperscalers must
deploy the hardware to get software learning - Barclays 
    ** Barclays' top picks: Advanced Micro Devices  AMD.O ,
Camtek  CAMT.O , Coherent  COHR.O , Marvell Technology  MRVL.O ,
NXP Semiconductors  NXPI.O , Western Digital  WDC.O 
     ** Brokerage sees AMD driving upcoming AI wave on
announcement of multiple hyperscalers and Enterprise customers
    ** Raises price view on AMD to street-high target of $200
from $120, taking shares up 5.1% to $154.08, highest in over 2
years
     ** Upgraded NXP Semiconductors to "overweight" from
"equal-weight", naming it as the best relative looking Auto name
    ** Barclays also upgraded its rating for Western Digital,
Camtek and Coherent to "overweight" from "equal-weight"; shares
of all up between 4.4% and 5.6% 

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))