Goldman Sachs raised the target prices of several chip and memory concept stocks.
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Goldman Sachs raises target prices for Bank of America and Citigroup.
According to Odaily Odaily, Goldman Sachs raised its price target for Bank of America from $65 to $71 and its price target for Citigroup from $149 to $162.
Goldman Sachs: Buy on dips in chip stocks, but avoid "buying a basket of chips" again.
According to Mars Finance, Goldman Sachs stated in its latest report on July 7th that semiconductor stocks still present investment opportunities after the recent pullback, but AI chip trading has entered a more selective phase, and investors should no longer simply buy the entire sector. The bank pointed out that the PHLX Semiconductor Index has risen by over 80% this year, significantly outperforming the S&P 500 and Nasdaq indices. This strong performance has raised the bar for subsequent earnings realization and made the risk-reward ratio more differentiated ahead of the Q2 earnings season. Goldman Sachs remains optimistic about certain sub-sectors, including CPUs, ASICs, memory, and semiconductor equipment. Goldman Sachs believes these areas will benefit more directly from the expansion of AI infrastructure and have relatively higher demand visibility. In terms of individual stocks, Goldman Sachs specifically mentioned AMD and Applied Materials. AMD benefits from server CPU and AI-related demand, while Applied Materials benefits from advanced process technology and memory capital expenditure. However, Goldman Sachs is more cautious about the mobile phone supply chain and some semiconductor companies with high valuations or weak demand.
Goldman Sachs maintains Nvidia's $285 price target, valuation already reflects ASIC market share risk.
According to BlockBeats, on July 7th, Goldman Sachs maintained its "Buy" rating and $285 price target for Nvidia, stating that the stock's current valuation already largely reflects the risk of market share loss due to its self-developed AI chips and increased competition. Nvidia has recently underperformed the broader semiconductor sector. While chip stocks generally rebounded on Monday, Nvidia's gains were limited; year-to-date, its performance has also significantly lagged behind AI hardware companies like Micron, AMD, Intel, and Marvell. The main market concern is that major customers like Alphabet and Amazon are pushing their self-developed ASIC chips to third parties while still purchasing Nvidia GPUs. Meanwhile, increased CPU investment in AI workloads is also giving AMD and Intel more growth opportunities. However, Goldman Sachs analyst James Schneider believes that Nvidia's risk discount is already too large. He expects that even with some market share gained by ASICs and some incremental growth from competitors, Nvidia's revenue could still achieve strong growth next year. The Vera Rubin platform, which will enter mass production in the second half of the year, will be key to determining whether the company can widen the performance gap again.
Goldman Sachs raised its price target for AMD to $640 and for Qualcomm to $180.
According to market sources, Odaily has raised its price target for AMD (AMD.O) from $450 to $640 and for Qualcomm (QCOM.O) from $145 to $180. (Jinshi)
Goldman Sachs: Demand continues to far exceed supply; raises TSMC ADR target price to $600
According to Mars Finance, Goldman Sachs raised its 12-month target price for TSMC from NT$2,750 to NT$3,000 ahead of the company's second-quarter earnings release. The target price for TSMC's ADRs was also raised from US$550 to US$600, with a reiterated "Buy" rating and maintained a PE ratio of 22x based on the company's estimated 2027 EPS. Goldman Sachs believes that demand for AI and high-performance computing (HPC) has been a structural growth engine for TSMC for many years. Last quarter, the bank observed even stronger momentum in 2027, particularly from demand for AI accelerators and server CPUs, with demand continuing to far exceed supply in both advanced process nodes and advanced packaging. Goldman Sachs expects TSMC to further accelerate its capacity expansion and capital expenditures, while continued productivity improvements and strategic pricing will drive gross margins towards a structurally higher trajectory in 2027 and beyond. (Cailian Press)
Goldman Sachs maintains its "Buy" rating on MiniMax with a target price of HK$860.
According to BlockBeats, on July 4th, Goldman Sachs maintained its "Buy" rating on MiniMax with a target price of HK$860. In its report, Goldman Sachs stated that the MiniMax M3 model, priced the same as the M2.7, boasts over 2x improved inference efficiency through upgraded training and inference architecture, more than offsetting the cost increase from doubling the model parameters. This week, DeepSeek announced that the official version of V4 is scheduled to launch in mid-July, simultaneously implementing a time-based pricing mechanism, with peak-hour prices doubled. Goldman Sachs believes that DeepSeek's price increase indirectly confirms the high cost-effectiveness of the MiniMax M3. The upcoming release of larger versions of the M3 series and the H3 video model are also seen as catalysts for the next stage.