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Powering Ahead: Semiconductor Leaders Boosting Tech Sector’s Performance
Over the past month, the Tech sector has outperformed the S&P 500, with the semiconductor industry significantly outpacing the SPX's gains. This week, we will focus on leading semiconductor firms, selecting those with strong fundamentals, investor approval, and sufficient liquidity.
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In the last month, the Tech sector has excelled beyond the S&P 500 and every other sector in the marketplace. Within this sector, it's no shock that the semiconductor industry stands out for its impressive growth. Demonstrated by the Dow Jones U.S. Semiconductors Index, which saw an exceptional increase of 22.94%, this growth starkly contrasts with the SPX's more modest advance of 3.36%.
This week we will focus on leading semiconductor firms using the insights provided by TC’s Fundamental Insight and Strategy Builder. To filter out the best performers, we will select companies that demonstrate superior fundamentals, indicated by a minimum TCQR score of 55. Furthermore, we are looking for companies that are viewed positively by investors and show better performance compared to their peers, which means they must have a Momentum score of at least 55. Also, to ensure that our picks are sufficiently liquid, we will limit our selection to companies with a market cap of $2 billion or more.
NVDA:US
Nvidia, a leading designer of graphics processors and arguably one, if not the most talked about stocks in the world, unsurprisingly tops our list. The stock has a TCQR of 65 and a whopping Momentum score of 90, which is the highest in our stock list. Nvidia has risen 42.8% in the previous 4 weeks and underwent a stock split on June 7th.
QCOM:US
QUALCOMM, one of the largest companies in the industry, has risen 11.9% in the last 4 weeks. The maker of digital wireless communications equipment holds a 89 Momentum score, the second highest in our list.
TSM:US
The NYSE-listed Taiwan Semiconductor Manufacturing is shown to have a 86 Momentum score rating and a respectable 56 TCQR that just makes the cut in our screener. The 756.38 billion dollar company has risen 15.1% in the past month.
FSLR:US
Coming in fourth place, First Solar, a 28.08 billion dollar entity, shows a small increase compared to others in the industry of 4.2% in the past month, alongside a Momentum score of 81 and a TCQR of 69.
Multi-Stock Trading LLC’s Strategy Builder provides a back-testing capability to evaluate how well an investing strategy would have worked in the past. Using a five-year historical period with quarterly rebalancing, the screen described had a 14-per-cent annualized return compared with 13 percent for the S&P 500 index.