Goldman Sachs identifies three semiconductor stocks—Teradyne, Applied Materials, and AMD—as top buy candidates ahead of Q1 earnings.
The bank warns investors to avoid KLA Corp., Onsemi, and Arm Holdings, citing weaker equipment spending, automotive exposure, and smartphone headwinds.
Goldman sees upside across compute, memory, storage, and capital equipment sub‑sectors, with hyperscaler capex expected to boost server CPU and ASIC demand.
The firm favors HDD and NAND storage segments and analog chips with industrial, aerospace, defense, and datacenter exposure due to limited near‑term supply.