NEW YORK ( TheStreet) - Semiconductor stocks such as Intel (INTC), Texas Instruments (TXN), Xilinx (XLNX), Analog Devices (ADI) and ON Semiconductor (ONNN) could see further upside, according to JPMorgan, which believes the PC market may be growing faster-than-expected.
Analyst Christopher Danely notes that inventories are being replenished and hard-disk-drive supply is ramping up. "Our industry checks indicate order rates from the PC end market continue to track ahead of expectations in 1Q12 due to inventory replenishment resulting from faster than expected ramp of hard disk drive supply," Danely wrote in a research note.
The analyst notes that component inventory for the PC market (primarily semiconductors) is getting replenished at a faster-than-expected rate, as worries over the hard disk drive shortage are abating.
Here are five semiconductor stocks that JPMorgan believes have more upside ahead:
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV