Two Chip Stocks Morgan Stanley Favors Ahead of Q4 Earnings
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Morgan Stanley favors European semiconductor stocks, particularly ASML and ASMI, ahead of Q4 earnings, citing strong memory demand and foundry investments. They raised ASML's price target to 1,400 and ASMI's to 825, driven by structural factors like memory recovery. In the analog chip sector, they prefer STMicroelectronics over Infineon and lowered Arm's target to $135 while maintaining an Overweight rating. Investors are keen on Q4 earnings for insights on capital spending trends and potential impacts from China sales, expected to decline modestly.
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