Citigroup analysts’ top four semiconductor picks for 2022 are Applied Materials, Lam Research, Nvidia and Marvell Technology.
On Applied Materials, the analysts mentioned that the company will gain from its 3-D device business, systems with multiple processors and substantial government spending on the chip sector. They have given a rating of buy and price target of $175 for Applied Materials stock.
The analysts gave a rating of buy and a price target of $750 for Lam Research shares. According to the analysts, Lam has a dominant position in flash memory, which they believe will grow along with cloud usage.
Citi analysts gave Nvidia a buy rating with a price target of $350. They consider it a “secular winner” in the metaverse.