Nvidia captivated investors this year with its soaring stock price and powerful artificial intelligence (AI) chips. Nvidia's valuation appears to be a bit rich, so investors might want to look elsewhere for returns in the second half of 2024.
Wall Street is soaring to new heights in 2024, buoyed by a robust U.S. economy as well as investor interest in advancements in artificial intelligence. As a result, the S&P 500 index gained over 15%, while the tech-heavy Nasdaq Composite index has advanced over 18% year-to-date.
Axcelis Technologies (ACLS) closed the most recent trading day at $138.73, moving -1.72% from the previous trading session.
Nvidia's data center GPU sales are still soaring as the AI market booms. Axcelis' sales will accelerate once the silicon carbide market stabilizes.
The $100 per share price point is a magical threshold for many investors and companies. Stocks priced below that amount are considered affordable while those above it are “expensive.
Axcelis Technologies is a leader in the niche field of ion implantation in the semiconductor industry. The company's focus on ion implantation and its top-of-the-line products make it the go-to choice for customers. Despite a potential short-term slowdown in demand for silicon carbide, Axcelis Technologies is well-positioned for long-term growth with its Purion Power series.
Both GM and Ford reported blockbuster EV sales in May. It's a positive surprise, given the downturn in EVs since mid-2023.
The S&P 500 is in a bull market, and these conditions can be very rewarding for investors. But not every stock rises in a bull market, so it's still important to be selective.
Axcelis Technologies' ion implanting equipment is increasingly required by technology developers looking for greater efficiency and better performance. The company's past few years have been challenging, but Intel has a couple of aces up its sleeve for patient newcomers.
This semiconductor stock will benefit from the increasing percentage of electric vehicles produced.
Zacks.com users have recently been watching Axcelis (ACLS) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The semiconductor industry is considered to be the backbone of AI and quantum computing. So, it's no wonder that many of the top semiconductor stocks are reaping the benefits of the AI boom.