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5 Chip Stocks To Watch, With Apple’s Big Event March 21

A basket of top-rated chip stocks are making moves around buy points now. And Apple ( AAPL ), a big user of semiconductors, just sent out press invitations for a March 21 event where it’s expected to introduce a small iPhone and another iPad. So which chip stocks are highly rated by IBD and get at least some of their business from Apple?  Broadcom ( AVGO ), IBD Leaderboard stock  Macom Technology ( MTSI ), Cirrus Logic ( CRUS ), Mellanox ( MLNX ) and Nvidia ( NVDA ) make the list. All are at least somewhat diversified, with revenue streams in everything from data center and mobile networking systems to powerful graphics chips for virtual reality and gaming, to connected car technology and now even artificial intelligence. Chips And Profit Going into Friday trading, IBD 50 stock Broadcom was a few percentage points into buy range from a double bottom base. Broadcom made IBD’s Stocks On The Move screen early Thursday, heading up in high volume alongside Google owner Alphabet ( GOOGL ) and a few other stocks. Early Thursday, Broadcom’s management team had presented at a Susquehanna Financial analysts’ conference. “It’s a great time to operate in the semiconductor industry,” CEO Hock Tan said there. “You have a substantial profit pool … compared to similar industries of the same size.” Loading the player…   Broadcom started giving up some of its gains as stock indexes dipped into the red with falling oil prices, but it ended up with a 1.7% rise for the day. Several other top-rated chip stocks declined Thursday. Mellanox slipped to the bottom of buy range. So did Macom Technology. Nvidia edged down to about 4% under a buy point from a cup base. While the stock market’s in a confirmed uptrend, much of the action is choppy with ups and downs in oil prices and economic concerns around the globe. All five of these top-ranked chipmakers have fallen from a week ago, between 1% and 7%, with the S&P 500 index down 1%. Cirrus Logic and Mellanox were up 14% and 15% this year, respectively, going into Friday. Macom was up 1% while Avago was down 1% and Nvidia down 4%. Nvidia, an IBD 50 stock, has the strongest IBD Composite Rating of the bunch, a best-possible 99, taking into account earnings growth, stock price gains and several other metrics. The others range between 90 and 98 in Composite Rating. Apple Chips It will take awhile for teardowns to show whose chips go into whatever new products Apple introduces, and longer for those chips to translate into reported sales, and lagging iPhone sales growth lately hasn’t helped the chips. Apple Sets March 21 To Launch Small iPhone, New iPad, Watch Bands https://t.co/MxIpxMFKvc pic.twitter.com/iPxQ1lTAFF — Investors.com (@IBDinvestors) March 10, 2016 Other markets are driving growth, however. Nvidia, for instance, said in its fourth quarter report, in February, that it’s at the “center of four exciting growth opportunities — PC gaming, VR (virtual reality), deep learning and self-driving cars.” Nvidia is a partner to electric car maker  Tesla Motors ( TSLA ) and other auto manufacturers, and said last month that it’s in an alliance with Facebook ( FB ) and Chinese Internet company Alibaba Group ( BABA ) for speedy artificial intelligence chips.

5 Top-Rated Chip Stocks: Are They Buys After Rough Market Day?

Semiconductor stocks are broadly down as major stock market indexes slip. Even top-rated chipmakers gave back gains in Tuesday afternoon trading. Some are near buy points, with the overall market still in a confirmed uptrend — but touchy amid weak China trade news and other economic concerns. In context, the profit-taking in chip stocks follows their 20% rally off February lows. Macom Technology ( MTSI ), an IBD Leaderboard stock and one of many Apple ( AAPL ) suppliers, was down 4% in afternoon trading in the stock market today , putting it just below buy range from a double-bottom base with a buy point of 41.42. Macom makes radio frequency chips for networks and cellular systems, among other things. It’s still up 8% this month. Broadcom ( AVGO ) gapped up Friday after its strong earnings report , and the IBD 50 stock is now logging a second day easing from that jump. It’s in buy range above a 138.79 buy point from a double-bottom base. Broadcom, recently merged with Avago Technologies, sells a broad range of analog and digital chip solutions. And it’s another supplier to Apple, which has an expected iPhone SE reveal event March 21 . Cirrus Logic ( CRUS ), a fabless chip supplier and yet another vendor to Apple, is trading about 9% under a potential buy point from a nine-month consolidation pattern, after its 4.5% drop intraday Tuesday. Mellanox Technologies ( MLNX ) was down almost 1% in afternoon trading, in buy range from a cup-with-handle base. The Apple supplier has given back early-March gains the last four days, after gapping up sharply in late February. Mellanox sells high-performance, end-to-end interconnect solutions for data center servers and storage systems. Nvidia ( NVDA ), down a little over 1% Tuesday and now about 6% under a buy point, is a maker of graphics chips used in gaming and with a growing specialty helping to power self-driving cars and advanced car safety systems. The IBD 50 company is a partner to electric car maker  Tesla Motors ( TSLA ), among many other auto manufacturers, with its technology going into Tesla’s big-screen infotainment consoles. Chip Stock Charts As the market has recovered, many chipmakers have moved above their key 50-day moving averages. In this video, we cover how some top-ranked semiconductor stocks opened the week, through Monday’s closing bell: Loading the player…   IBD’s Electronics-Semiconductor Manufacturing industry group was down 2% intraday Tuesday, while the S&P 500 index was off nearly 1%. RELATED: Samsung Galaxy S7: Qualcomm, Qorvo Displace Cirrus Logic, Broadcom

Tech Investors: 6 Highly Rated Chip Stocks Approach Buy Zones

With the market in a confirmed uptrend, it’s time to scan for stocks to potentially add to your portfolio. Let’s take a look at six highly rated chip stocks that are nearing buy points: Broadcom ( AVGO ), Macom Technology ( MTSI ), Maxlinear ( MXL ), Cirrus Logic ( CRUS ), Microsemi ( MSCC ) and Nvidia ( NVDA ). Two Form Double-Bottom Bases Broadcom earns a near-best IBD Composite Rating of 98 out of 99 and is due to report quarterly results after the close today. Analysts expect earnings to increase 10% and revenue to rise 6%. Broadcom has formed a double-bottom base within a larger consolidation pattern. Shares edged a few cents above the 138.79 buy point in intraday trade on Thursday, but they reversed lower with a 0.9% drop. Broadcom is 10% below its high reached last June. Macom Technology is also working on a double-bottom base, which has a 41.42 buy point. After retaking its 50-day line a few sessions ago, it’s now just 2% below the buy zone. Shares rallied 1.7% Thursday. Macom has a Composite Rating of 98 as well. The rating is based on fundamental and technical factors, including earnings and sales growth, profit margins, return on equity and relative share-price performance. Working On Right Side Of Pattern Maxlinear has a highest-possible 99 Composite Rating. It’s trading about 5% below a cup-base buy point of 17.85, but it slipped 1.7% Thursday. The stock was able to find support at its 200-day line as it formed the base. Apple ( AAPL ) chip supplier Cirrus Logic is trading 6% below a buy point from a nine-month-long consolidation pattern. Shares reversed lower Thursday in light volume, falling 1.7%. Cirrus has a 95 Composite Rating, as does Microsemi. Microsemi is trading 9% below a 39.66 buy point. It was able to retake its 200-day line last week in above-average volume. And Nvidia, a Tesla ( TSLA ) partner, is trading 4% below a buy point at 34.04. The stock gapped up to retake its 50-day line last month on the back of a strong quarterly report. Nvidia has a 99 Composite Rating.