The MunAiMarkets Pure-Play “Fabless” Semiconductor Stocks Portfolio UP 5% MTD - ARCHIVED

An Introduction

The Pure-Play Fabless Semiconductor Stocks Portfolio consists of 6 companies that outsource the fabrication (or fab) of chips to specialized foundries while designing and selling the chips themselves.

The Pure-Play Fabless Semiconductor Stocks Portfolio: UP 5.2% MTD; UP 17.3% in 2024

Below are how each of the constituents in the portfolio have performed so far in 2025, in descending order, and the reasons that contributed to the changes MTD:

1. Qualcomm (QCOM): UP 36.7% MTD; UP 6.2% in 2024
   • Reasons for Price Change
     1. Positive Earnings Performance: Qualcomm’s recent earnings report exceeded expectations, with analysts predicting earnings of $2.92 per share and revenue of $10.89 billion, reflecting year-over-year growth.
     2. Dividend Announcement: Qualcomm announced a quarterly cash dividend of $0.85 per share, payable on March 27, 2025. This dividend announcement positively impacted investor sentiment.
     3. Strategic Collaborations: Qualcomm entered into a strategic collaboration with Mapmyindia to accelerate ‘Make in India’ solutions for automotive, which boosted investor confidence in the company’s growth prospects.
     4. Market Sentiment: The overall positive sentiment in the tech sector and the broader market also contributed to the stock’s rise.
2. Marvell (MRVL): UP 13.0% MTD; UP 83.1% in 2024
   • Reasons for Price Change
     1. Positive Analyst Ratings: Multiple analysts upgraded their ratings for MRVL. For instance, Barclays raised its price target from $115.00 to $150.00, and Loop Capital increased its price target from $95.00 to $110.00.
     2. Strong Financial Performance: Marvell Technology reported impressive quarterly results, which exceeded analysts’ expectations and boosted investor confidence.
     3. Market Sentiment: The overall positive sentiment in the tech sector and the broader market also contributed to the stock’s rise.
3. Monolithic Power Systems (MPWR): UP 5.8% MTD; DOWN 7.8% in 2024
   • Reasons for Price Change
     1. Strong Financial Performance: MPWR reported impressive quarterly results, with revenues of $620.1 million, up 30.6% year-over-year, which exceeded analysts’ expectations.
     2. Positive Analyst Ratings: Analysts maintained positive ratings for MPWR, highlighting its strong growth prospects and market position.
     3. Market Sentiment: The overall positive sentiment in the tech sector and the broader market also contributed to the stock’s rise.
4. Nvidia (NVDA): UP 2.6% MTD; UP 171.0% in 2024
   • Reasons for Price Change
     1. Positive Earnings Performance: NVIDIA’s recent earnings report exceeded expectations, with strong revenue and profit growth driven by high demand for its AI and data center products.
     2. CES 2025 Announcements: NVIDIA CEO Jensen Huang’s keynote at the Consumer Electronics Show (CES) in Las Vegas generated excitement and positive market sentiment. The company announced several innovative products and partnerships, boosting investor confidence.
     3. AI-Driven Growth: The ongoing AI boom continues to drive NVIDIA’s growth, as its GPUs are critical for AI applications and data centers.
     4. Analyst Ratings: Analysts maintained positive ratings and price targets for NVIDIA, reflecting confidence in the company’s future performance.
5. Broadcom (AVGO): UP 2.4% MTD; UP 63.7% in 2024
   • Reasons for Price Change
     1. Positive Earnings Performance: Broadcom reported strong earnings, with analysts predicting earnings of $1.50 per share for the current quarter, representing a year-over-year change of +36.4%. This positive earnings performance boosted investor confidence.
     2. Revenue Growth: Broadcom’s revenue for the last reported quarter was $14.05 billion, representing a year-over-year change of +51.2%. This strong revenue growth contributed to the stock’s rise.
     3. Analyst Ratings: Analysts maintained positive ratings for Broadcom, with this positive sentiment from analysts further supporting the stock’s performance.
     4. Market Sentiment: The overall positive sentiment in the tech sector and the broader market also played a role in the stock’s rise.
6. Advanced Micro Devices (AMD): UP 0.9% MTD; DOWN 18.3% in 2024
   • Reasons for Price Change
     1. Analyst Downgrades: Multiple analysts downgraded their ratings for AMD. For example, Bank of America downgraded the stock from “Buy” to “Neutral” and lowered its price target from $180 to $155. Truist and Wolfe Research also lowered their price targets, citing concerns about AMD’s AI progress.
     2. Revenue Concerns: Analysts expressed concerns about AMD’s revenue growth prospects, which impacted investor sentiment.

Go HERE for a live chart (updated minute-by-minute) of each constituent in the portfolio