Read Why Nvidia, AMD, Taiwan Semiconductor And Other Chip Stocks Gained Steam

Marvell Technology Inc MRVL, NVIDIA Corp NVDA, and Micron Technology Inc MU are likely to continue to see investor interest, as Citigroup notes that November chip sales were "well above" seasonal trends, and lead times continue to get longer.

• Citing Semiconductor Industry Association, analyst Christopher Danely notes that November monthly sales were $51.7 billion, up 10.7% month-over-month, compared to an average decline of 0.7% and estimates of $48.1 billion, as a result of higher units and pricing.
• Related Content: Chip Sales Set To Grow Nearly 10% In 2022: Report
• "We believe pricing will continue to drive upside due to the extended lead times," Danely added. "We do not expect semis to sell off until lead times decline, which could be in [second half of 2022]."
• Goldman Sachs lists Advanced Micro Devices Inc AMD and Marvell as top picks for 2022.
• Goldman sees Marvell's near-term growth as "well telegraphed," as its management has guided to 30% revenue growth year-over-year for fiscal 2023, but its long-term growth, led by the cloud, 5G infrastructure buildout, and automotive is "not fully priced in."
• Goldman sees AMD likely to continue growing its market share and gross margins, driving earnings higher aided by design wins, particularly in the server CPU space, for cloud and enterprise customers.
• Price Action: NVDA shares traded higher by 2.70% at $302.16, TSM shares traded higher by 7.11% at $128.87, and AMD shares traded higher by 4.9% at $150.90 on the last check Monday.