Goldman Sachs Says Chip Stocks Are Oversold, Names Nvidia, Broadcom and AMD as Top Buys

TLDR Goldman Sachs analyst James Schneider calls chip stocks oversold and names Nvidia, Broadcom and AMD as top picks. The Philadelphia Semiconductor Index fell 21% in a month, with a 11% intraday drop on November 5. Goldman says Nvidia and Broadcom trade near 12 and 13 times earnings even with no 2028 growth. Wells Fargo upgraded its view on US AI infrastructure to neutral on November 10. Nvidia reports quarterly earnings on November 17. Goldman Sachs says the recent drop in chip stocks has gone too far. Analyst James Schneider called the sector oversold in a report covered by Yahoo Finance on November 10. He named Nvidia, Broadcom and Advanced Micro Devices as three preferred picks.

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