With Intel, AMD, Nvidia, and More Rising Sharply Last Week, Have Chip Stocks Become Overvalued?
Strong earnings reports from Intel and Texas Instruments drove chip stocks higher last week, with Nvidia also hitting new highs. The AI boom is expanding beyond GPUs, increasing demand for various chip products.
Chip stocks surged last week following strong earnings reports from Intel and Texas Instruments, which exceeded analyst expectations. Intel CEO Lip-Bu Tan stated that the next wave of AI will increase demand for Intel's CPUs and advanced packaging offerings. Texas Instruments CEO Haviv Ilan noted the company's strength in power electronics, a critical component for AI-enabled data centers. The reports confirmed the AI boom's expansion beyond GPUs, driving up prices for chip stocks, including AMD and Nvidia. Intel's revenue growth rate was 7% year-over-year, while Texas Instruments' growth rate accelerated to 19%. These results follow Broadcom's impressive report last month and Nvidia's fiscal fourth-quarter results in late February, which showed accelerating revenue growth.
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