NVIDIA Corp (NVDA)

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Is It Still Worth Buying Semiconductors Into 2021?
By: Chris Lange | December 30, 2020

The COVID-19 pandemic hit 2020 especially hard, but markets have recovered handily to near all-time highs. This recovery has been largely on the back of big tech stocks, and the tip of the spear has been semiconductors.

Major semiconductors have been one of the most wildly successful industries this year, and many people view it as a leading indicator for the broad markets. The S&P 500 and Dow Jones industrial average are up 15% and 6% year to date, respectively. Of all the semiconductor stocks in the S&P 500, only one stock has underperformed either of these indexes in this time.

The question for many investors is whether semiconductor stocks can keep up this rally and keep the markets hitting all-time highs.

24/7 Wall St. has reviewed some of these major semiconductor stocks to see if they have the potential to keep running in 2021. We have included a brief trading history on each stock, as well as what analysts are saying about it.

Nvidia

The biggest winner among the major semiconductor stocks has been Nvidia Corp. (NASDAQ: NVDA), posting a gain of 120% year to date. The chips that Nvidia sells are used across a broad spectrum of computing, ranging from artificial intelligence and autonomous vehicles to gaming and even supercomputing. Considering all these trends are just hitting their stride, Nvidia could see smooth sailing through the coming year.

Nvidia stock has traded mostly between $515 and $520 per share in recent days. The 52-week trading range is $180.68 to $589.07. The consensus price target is $592.84.

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