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3 Best Semiconductor Stocks to Buy for 2024
To me, great research is defined by what you say when times are tough…not when the gettin’ is good.
Let’s rewind the tape back to October when the Big Money Index (BMI) alerted an incredible setup.
Not only did we pound the table that a breath-taking rally was coming, we have the equity performance to back it up.
Here are the 3 best semiconductor stocks for 2024.
In rare moments, the market offers investors an opportunity for the ages. Deeply oversold periods continue to preface crowd-stunning rallies.
Circling back to the literal COVID lows on March 19th, 2020 – our Big Money Index reached the green zone and we had no choice but to send the marines.
Then in late October of last year a similar setup emerged. The BMI fell to unprecedented levels that only meant the bear-killer signal was finally here.
Today we’re going to fill in the powerful study we sent back in early November, that said, the time is NOW to buy.
And more importantly, we are going to dive into 3 semiconductor stocks that institutional investors were scrambling to buy in the market depths…proving yet again that professionals get ahead of the biggest market moves.
At MAPsignals, we love finding outlier stocks. Those are the ones that tower over all others seemingly year after year.
Even more fun is uncovering them during a washed-out market environment. October 2023 was exactly that instance.
On October 25th, our Big Money Index dropped below 19, an ultra-rare oversold reading:
Now, it’s important to remind you of the prevailing positioning of the crowd. Most investors had thrown in the towel. Doom-loopers were all over the mainstream media.
But we took the other side of that bet. We saw an undefeated signal firing.
When we looked back through our data, we learned that every time the BMI fell below 19 (since 2016), the market was never lower.
Below is an updated screen shot of that study, with what happened next circled in green:
During this post we made the following statement:
◉ 2 bear-killer signals are here.
This is when MAPsignals data-driven process shines.
New leading stocks are set to emerge…don’t be a sad bear and miss what’s coming.
By the time the media is shaking the bullish pompoms, the BMI will be well off the lows. The stock chase will be well underway.
We’re staring at one of the best setups seen in years. ◉
And it was indeed one of the best setups in years. We were able to easily spot the 3 best semiconductor stocks for 2024.
Working on Wall Street taught me life lessons I’ll never forget.
First, focus on companies with the best forward earnings growth. Second, make sure they have institutional sponsorship.
Marrying these 2 ingredients ignites inflection points. This is the hallmark differentiator of our equity research.
Every single week, we list our Top 20 ranked stocks getting scooped by institutions. When your process looks at thousands of equities, and zeros in on 20, we’re left with outliers…the tails.
The top performing stock in the S&P 500 this year is Super Micro Computer ($SMCI) gaining 216% YTD.
On January 16th, we showcased this server and storage stock due to the massive accelerating earnings picture. Net income surged from $285MM in 2022 to $640MM in 2023.
Estimates now peg 2025’s net income at a staggering $2.16B. When profits are exploding you can bet that the best on Wall Street will be participating…and they were!
Here you can see Super Micro Computer making our rare Top 20 list in January and beyond. We specifically called this name out the first instance circled below:
If you think this is impressive, it only gets better from here.
The 2nd best performing stock in the S&P 500 is NVIDIA ($NVDA) with a mind-numbing 172% jolt in 2024. When it comes to ultra-fast chips, NVIDIA stands alone.
The same process that highlighted $SMCI is how we lasered in on NVIDIA.
Institutional investors aren’t going to miss the biggest earnings story. With NVIDIA’s net income ballooning from $4.3B in 2023 to $29.7B in 2024, the stock was easily on the radar of the Big Money.
With net income expectations sitting at $86B for 2026…it’s no wonder this name remains heavily under accumulation.
The circle below shows when we specifically called out NVIDIA as a top buy in January:
Now let’s keep going. $SMCI and $NVDA may seem like household names to you by now. The media has covered them extensively after the record-breaking rally.
MAPsignals is all about finding stocks BEFORE the crowd is aware.
The number 3 best semiconductor stock for 2024 is under-the-radar Israeli firm Camtek ($CAMT).
The inspection & metrology equipment firm has the outlier ingredients we look for: massive institutional buying alongside accelerating earnings.
In 2023, Camtek’s net income stood at a healthy $78.6MM. With estimates pegging profits to climb to $137.4MM in 2026…it’s no secret that Big Money players swooped in well ahead of the inflection point.
Here we can see the same stairway to heaven setup we saw with $SMCI and $NVDA. We specifically called out this name to subscribers in October (circled). As they like to say, the rest is history:
And before you think we’re cherry-picking, from October – May we showcase 2 stocks every single week on this report. Hypothetically held through yesterday, those 70 discrete names have an average gain of 27.05%…had you just bought the S&P 500 in similar fashion the gains stood at 17.03%.
The popular narrative on Wall Street right now is that stock picking is dead.
We know that isn’t true…and we believe there’s so much more to go.
There are a lot of under-the-radar stocks making monster moves.
You just need a MAP to spot them!
Here’s the bottom line: Sometimes you need to look backwards to see the future. While most research shops were doom in gloom last October, we saw one of the best stock opportunities in years.
Semiconductors were heavily bought coming out of the bear market and $SMCI, $NVDA, and $CAMT showed some of the best earnings growth pictures around.
Fast forward today, and it’s no surprise why those names were on the buy list of the Big Money.
We not only see semiconductors thriving in 2024 and beyond, but once rates fall later this year, the bonanza will only keep going.
If you want to beat the market and be equipped with outlier stocks NOT on the lip of the media, follow the institutional footprints with MAPsignals!
If you’re a serious investor, professional, or Registered Investment Advisor (RIA), now’s a wonderful time to become a MAP PRO subscriber.
News-Flow will only tell you what happened yesterday.
Money-Flow will tell you what’s coming tomorrow!
LASTLY, join us live at the MoneyShow Masters Symposium in Las Vegas as we dive into our 2024 Election Year Playbook.
Have a great week!
Bodner, Jason
Bodner, Jason
<p>Jason Bodner is an accomplished investor and stock researcher reaching tens of thousands of people each week. He co-founded MAPsignals.com, a quantitative equity research firm focusing on unusual institutional trading. Mr. Bodner contributes to Navellier & Associates' weekly, writing <i>Sector Spotlight</i> and several white papers. He is also the editor of <i>Quantum Edge </i>for TradeSmith. Previously, Mr. Bodner served as director of European equity derivatives for Cantor Fitzgerald Europe in London, then moved to the role of head of equity derivatives North America for the same company in New York. He also served as S.V.P. equity derivatives for Jefferies, LLC.</p>
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