Semiconductor stocks continue to lead IBD sector rankings. The semiconductor sector is loaded with names with high Composite Ratings, thanks to good fundamentals and relative price strength, Investor’s Business Daily reported.
Nvidia (NVDA) is a top performer in the group. The stock is still acting well, holding above its 10-week moving average.
Nvidia used to be known mainly for its graphics cards for video game consoles, but the company has immersed itself in new markets with bright growth prospects, including self-driving cars and artificial intelligence.
NXP Semiconductors (NXPI) is trading tightly and holding gains after a bullish move during the week ended September 30 fueled by news that Qualcomm (QCOM) could be a potential suitor. Qualcomm itself has a sound chart, with support at the 10-week moving average after a base breakout in July.
NVDA is a Cabot Top Ten Trader stock, and QCOM is a Cabot Benjamin Graham Value Investor stock.