This Top Chipmaker Is Destined to Deliver More Upside
Analog Devices (NASDAQ: ADI) crushed Wall Street's expectations and delivered a stronger-than-expected guidance thanks to robust demand for its chips from the industrial and automotive markets, among others. The company's fiscal 2021 fourth-quarter earnings report -- released on Nov. 23 -- revealed a sharp jump in revenue and earnings, aided by its acquisition of Maxim Integrated, which closed in August.
Analog's stock price dipped by 1.6% after the report, which is surprising given its impressive results and guidance. Investors, however, should focus on the bigger picture, which suggests that Analog has further to rise even after its 23% gains so far in 2021.
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Source Fool.com
