On Semiconductor is a top chip stock for autos that could jump more than 25%, Bank of America said. Analyst Vivek Arya named On Semiconductor a top autos pick, and reiterated a buy rating on the stock, following what he called a "confident" management presentation this week. This was in addition to news that On Semiconductor signed a long-term electric vehicle supply deal with BMW.
The stock is up about 0.4% in Wednesday premarket trading. That's because the auto sector remains a strong growth theme, as battery powered EV adoption and the related charging infrastructure drive demand for semiconductors, according to the analyst. "We expect ON to maintain/expand its 25-30% CY23E SiC device mkt share, while also benefitting from its leadership in image sensors for advanced driver assist systems," Arya wrote.
You always wonder on these analyst calls. If you spend the time to listen to ER on Chips Manufacturers and get the deck. Auto is such a minuscule percentage as are normally the CHEAPER LOWER MARGIN CHIPS. Nano CHIPS, Cell Phones, Micro are the MOST PROFITABLE. 25% for real?
Batteries and motors on wheels w.o. steering wheels are rallying. See: Rally!
this news source cannot be trusted.
Cash grab….
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