Semiconductor chip stocks have been at the center of everyone’s attention lately…
You can thank the ongoing chip shortage impacting several industries including everything tech-related and the automotive space for that one.
But more and more items involve chips to function everyday… cars, TVs, refrigerators and now even microwaves rely on chips.
Just think about it…
The world is becoming automated, with smart homes and offices a reality now. When you combine that with the post-COVID-19 pandemic spending we’re about to see, it’s going to create even more demand for chips and chip stocks to watch in the coming months.
And that’s especially true with EVs becoming a part of our everyday lives. So in this video, WealthPress Senior Strategist Roger Scott wants to give you two of his favorite chip stocks to watch… Both are picking up major momentum!
If you look at the performance of the VanEck Vectors Semiconductor ETF (Nasdaq: SMH), which tracks the semiconductor index, it’s seen a 100-plus percent gain over the past 12 months.
And with the influx of capital moving into the stock market — and the recent stimulus checks providing even more liquidity — Roger anticipates even more upside.
That’s especially true for semiconductor companies that are technically breaking out right now and have strong fundamentals to back up aggressive expansion, and growth into new territories.
There are two semiconductor stocks making major headways in the past several months.
And he believes these chip stocks to watch are positioned for more upside in the months ahead.
Roger said that he would wait for a short pullback before entering either one of these two stocks because their momentum levels are a bit too hot right now. And a pullback would offer a lower risk opportunity based on volatility levels we’re seeing right now.
We’d ideally want both stocks to hit their 50-day moving averages, which should give us a nice little bounce and a short-term entry opportunity.
So check out the short video below for his favorite chip stocks to watch — and even more on the best ways to trade them. Also be sure to share your thoughts in the comment section below.
And as always, don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
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