Oppenheimer Analysts Rick Schafer and Wei Mok said in a note emailed Tuesday that lead times and supply in Asia appear to be improving, while power management integrated circuits continue to be a "notable component bottleneck."
According to the analysts PC, handset and TV markets are likely to be flat or down this year, while geopolitical conflict and new COVID-triggered shutdowns in China are affecting auto manufacturing, all of which could weigh up on semiconductor stocks.
"We are stock-selective, favoring companies gaining content/share in core growth verticals DC/cloud, 5G, and Auto," they said.
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