by Ian Cooper

With the AI story showing no signs of slowing, buy semiconductor stocks.

According to Precedence Research, the global semiconductor market could be worth about $1.137 trillion by 2033. That’s up from $544.78 billion in 2023. Two, until the AI boom cools – which won’t happen any time soon – semiconductor demand will only rise.

Fueling even more AI momentum, Apple just introduced a range of new AI features, including an upgrade to its voice assistant Siri, and integration with Open AI’s Chat GPT.

With that, some of the top semiconductor stocks to buy include:

Taiwan Semiconductor (TSM)

According to Bank of America analysts, TSM is an “indispensable and reliable partner” to Apple, says CNBC. “We believe the semi demand upside from Apple can get bigger with its widening AI service, from a relatively low base,” added the firm. “TSMC is Apple’s supplier for the A- and M-series semiconductors and is well poised to benefit from multi-year growth.”

Micron Technology (MU)

Bank of America analysts just raised its price target on Micron to $170 from $144. Analysts at UBS also raised its price target to $155 from $125, reiterating a buy rating. Even Citi has Micron listed as a top pick.

Cantor Fitzgerald also expects to see further upside in Micron, especially with the AI story fueling demand for its high-bandwidth memory products.

Advanced Micro Devices (AMD)

While it’s been trending lower, weakness is opportunity in Advanced Micro Devices (AMD).

Analysts at Edward Jones also initiated coverage of AMD with a buy rating, citing growing demand for data center infrastructure.