Investors eye these 4 top-performing semiconductor stocks for quick returns

on May 15, 2024
Updated: May 16, 2024
  • Semiconductor stocks have been in focus this year due to the AI frenzy.
  • Here are the top performing four semiconductor stocks for quick returns.
  • A brief overview of what each of these 4 chipmaking stocks have to offer.

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Semiconductor stocks have been the front and centre of all financial debates as investors and analysts alike continue to focus on artificial intelligence this year. Having said that, here are the top 4 top-performing semiconductor stocks for quick returns.

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Nvidia Corp (NASDAQ: NVDA)

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Our list of best performing semiconductor stocks just had to begin with Nvidia as continues to be the top means of gaining exposure to rapid growth in artificial intelligence.

Shares of the chipmaker have nearly doubled since the start of 2024 and it is broadly expected to extend the rally further moving forward. In fact, Blayne Curtis – a Jefferies analyst recently reiterated his “buy” rating on $NVDA that he’s convinced is on its way to $1,200 per share.

The Nasdaq-listed firm saw its revenue more than triple to $22 billion in Q4 and it expects the metric to print at an even higher $24 billion in the current quarter on the back of AI tailwinds.

Qualcomm Inc (NASDAQ: QCOM)

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Qualcomm makes it to our list of top semiconductor stocks worth buying for quick returns because its net income climbed 37% in the second quarter.

More importantly, the wireless technology company issued guidance for its current quarter that handily beat Street estimates as well.

On top of it, $QCOM pays a dividend yield of 1.75% as well. The multinational ended its last fiscal year with over $11 billion in cash equivalents. So, rest assured the dividend payments are unlikely to go anywhere moving forward.

Qualcomm stock is currently up more than 40% versus the start of 2024.

Arm Holding PLC (NASDAQ: ARM)

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Arm is another great pick if you’re interested in best semiconductor stocks for May 2024 as its technology powers pretty much every smartphone in the world.

Plus, shares of the British chip designer may be all the more attractive now that they are down some 25% versus their year-to-date high in February.

Note that $ARM is reportedly slated to launch its own AI chips in 2025 as well (find out more).

Last week, the Nasdaq-listed firm cited artificial intelligence tailwinds as it reported a 47% annualised growth in its fourth-quarter revenue and offered better-than-expected guidance for Q1 as well.

Taiwan Semiconductor (NYSE: TSM)

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TSM finds a spot among top-performing semiconductor stocks for quick returns as “all AI roads must go through” Taiwan Semiconductor, as per analysts at Susquehanna (read more).

Shares of New York listed firm are worth owning for the company’s partnerships with titans including Apple Inc and Nvidia Corp.

Management at $TSM expect revenues to rebound by about 23% this year and EPS by some 19% following what was a weaker 2023. Plus, the stock pays a dividend yield of 1.60% as well.  

Just last week, Taiwan Semiconductor reported a 60% increase on a year-over-year basis in its sales for April to NT$236 billion.


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