Globe & Mail Extract The current cycle of rising chip demand is expected to help semiconductors, said Daniel Morgan, senior portfolio manager at Synovus Trust Company.
“Semiconductors are operating on all cylinders right now. They can’t make them fast enough,” he said.
Micron Technology Inc shares rose when it forecast quarterly revenue above Wall Street estimates due to a rise in demand for memory chips, thanks to 5G smartphones and artificial intelligence software.
As companies have more money to increase their technology spending, that will support tech companies as well.
“With tech, either way they win. They’re really in a great position right now,” Morgan said.
Microsoft Corp is expected to report April 27.
Rounding out the FAANG reports, Google parent Alphabet Inc , Apple Inc, Facebook Inc and Amazon.com Inc also are due to report results later this month.