Morgan Stanley: Expected last quarter's semiconductor and equipment industry performance to meet or exceed expectations, giving Broadcom, Nvidia, and others a "hold" rating.

JPMorgan Chase released a report stating that as we enter the fourth quarter earnings season for the semiconductor/semiconductor equipment industry, the bank expects companies to report fourth quarter results that meet or exceed expectations. They also provided constructive comments on the outlook for the first quarter and full year 2026, which will continue the positive trend in earnings revisions that the bank has seen in recent quarters. The bank continues to favor the following top picks: Broadcom, Micron Technology, NVIDIA, AMD, Micron Technology, Applied Materials, and Synopsys, with a rating of "overweight."