B. Riley analyst Craig Ellis upgraded Skyworks to Buy from Neutral with a price target of $130, up from $96, ahead of the July 8 through 11 SEMICON West industry event. The magnitude and pace of AI-led fundamental and financial acceleration seems unprecedented outside the late ’90s Internet 1.0 build-out, the analyst tells investors in a research note. The firm believe 2024’s event could offer particularly consequential fundamental and stock takeaways, as data center-centric AI training product cycles add inferencing engines in the data center and at the edge in high-volume applications.
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