The Latest Breaking News from KLAC

March S&P 500 E-Mini futures (ESH25) are up +0.10%, and March Nasdaq 100 E-Mini futures (NQH25) are up +0.35% this morning as market participants braced for the Federal Reserve’s interest rate decision and U.S. megacap tech earnings.

KLA Corporation is scheduled to release its second-quarter earnings this month, and analysts project a double-digit profit increase.

Despite KLA Corporations’ recent underperformance relative to the S&P 500 Index, Wall Street analysts remain moderately optimistic about the stock’s prospects.

As analysts call for defensiveness in the semiconductor sector, this top equipment maker stands out.

With 2024 nearing its finale, here are three budget-friendly stocks to consider this month for potential gains.

KLAC MOVES UP 2.6% AT ITS HIGH AFTER ALERT

The semiconductor industry has witnessed significant growth, driven by rising demand for devices, technological breakthroughs, and advancements. In this thriving landscape, Taiwan Semiconductor Manufacturing (TSM), KLA Corporation (KLAC), and QUALCOMM (QCOM) stand out with their strong fundamentals, positioning them as top contenders in the industry’s future. Read on….

KLA Corporation has trailed the broader market over the past year, while Wall Street analysts remain cautiously bullish on its prospects.

December Nasdaq 100 E-Mini futures (NQZ24) are trending up +0.28% this morning as strong quarterly results from Alphabet boosted sentiment, while investors also awaited a fresh batch of U.S. economic data and earnings reports from “Magnificent Seven” companies Microsoft and Meta.

As KLA Corporation gears up to announce its fiscal 2025 Q1 earnings later this month, analysts are projecting a modest double-digit bottom-line growth.

As Fed Chair Powell might say, the semiconductor sector's recent pullback represents a recalibration rather than the start of a downturn. With foundational support from AI advancements and a stabilizing economy, investors might want to buy the dip on these chip stocks.