The global AI market is projected to grow at 38% annually to reach $1.7 trillion by 2030, driving the growth of photomasks for integrated circuits or semiconductors.
Photronics, a company that manufactures photomasks for IC production, expects increased demand in the 2nd and 3rd fiscal quarters of 2024.
The company's low valuation and strong growth has the potential to drive the stock higher for above-average gains.
I like the bull flag set-up that the stock is currently showing on the daily chart. The stock has a good chance of going higher on PLAB's continued AI-related growth. Over 30% upside is possible. The link below contains an in-depth article about the company.
https://seekingalpha.com/article/4661777-photronics-a-hidden-gem-likely-to-benefit-from-ai-growth
Photronics, a company that manufactures photomasks for IC production, expects increased demand in the 2nd and 3rd fiscal quarters of 2024.
The company's low valuation and strong growth has the potential to drive the stock higher for above-average gains.
I like the bull flag set-up that the stock is currently showing on the daily chart. The stock has a good chance of going higher on PLAB's continued AI-related growth. Over 30% upside is possible. The link below contains an in-depth article about the company.
https://seekingalpha.com/article/4661777-photronics-a-hidden-gem-likely-to-benefit-from-ai-growth