Sept. 28, 2021, 7:23 p.m. EDT

5 Top Semiconductor Stocks To Watch This Week

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Sep 28, 2021 ( via COMTEX) -- Are These Top Semiconductor Stocks On Your October 2021 Watchlist?

While investors consider why stocks are downin the stock market today , the case could be building for semiconductor stocks. After all, with virtually most tech in the world today relying on semiconductor chips, global demand remains strong. So much so that even as the broader tech industry faces pressures from increasing Treasury yields today, some could see opportunity among the top names in the space. Moreover, semiconductor companies appear to be gaining momentum as they ramp up their operations to meet growing global demands.

Just this week, AMD ( NASDAQ: AMD ) CEO Lisa Su provided a rather upbeat outlook on the current chip shortages. According to Su, supply restrictions could ease in the latter half of 2022. Overall, her reasoning for this lies in the current efforts across the industry to improve chip manufacturing facilities. Companies that are making such plays will likely have their new and improved plants operating within the next few months. Even now, the likes of Skyworks Solutions ( NASDAQ: SWKS ) continue to thrive. In its latest fiscal quarter, the company saw green across the board. In short, this added up to year-over-year gains of over 160% in both its net income and earnings per share for the quarter. Considering all of this, could these semiconductor stocks be top picks in the stock market now?

Best Semiconductor Stocks To Watch Right Now

Micron Technology

Micron Technology is an innovative memory and storage solutions company. It delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products. The company mainly does this through its Micron and Crucial brands. Also, Micron's semiconductor products are used to enable advances in artificial intelligence (AI) and 5G applications. The company will be reporting its fiscal fourth quarter after the market closes today.

Last month, Micron announced its new Crucial P5 Plus PCIe SSDs as an expansion of its award-winning NVMe SSD portfolio to offer high-performance internal Gen4 storage options to consumers.

"With data intensive workloads on the rise, consumers increasingly demand high-performance storage solutions for their needs including engineering applications, video editing, content creation and gaming," said Teresa Kelley, vice president and general manager of Micron's Consumer Products Group. Given this piece of news, is MU stock worth adding to your portfolio right now?

[Read More] What Stocks To Buy Today? 5 Tech Stocks To Watch

Nvidia Corporation

Following that, we have Nvidia Corporation, a multinational technology company with headquarters in California. The company designs graphics processing units (GPUs) that are used by the gaming and professional markets. Notably, the company has made huge strides in the field of AI. As more companies are increasingly data-driven, demand for AI technology will grow and Nvidia will be at the center of the action.

The company in a recent blog post announced that it continues to extend its AI inference performance leadership with either x86 or Arm-based CPUs in this latest benchmark released. This would be the third consecutive time that Nvidia has set records in performance and energy efficiency on inference tests from MLCommons, an industry benchmarking group.

This would also be the first time that its data-center category tests have run on an Arm-based system, giving users more choice in how they deploy AI. With that being said, will you consider watching NVDA stock?

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