The market for self-driving cars has ramped up lately…
As reported by TrendForce, a leader in providing detailed market intelligence and consultation services, the average DRAM content in vehicles will exceed 30% CAGR (compound annual growth rate) in the next three years.
DRAM, which stands for Dynamic Random-Access Memory, is a type of memory used in many processor systems to provide working memory. However, this one only retains content for a short period of time, so it must be continually refreshed.
In 2019, automotive memory made up less than 2% of total DRAM consumption, but it’s expected to explode as self-driving cars increase in popularity.
I don’t mean to overwhelm you with a bunch of technical terms, but I do have two semiconductor stocks to watch in 2021 that I want you to see…
2 Semiconductor Stocks To Watch in 2021
DRAM has a ton of uses in modern vehicles like graphic functions, instrument clusters and cameras in advanced driver-assistance systems. After all, self-driving cars need the bandwidth to process data.
Just for an example: Tesla Inc. (Nasdaq: TSLA) uses GDDR5 DRAM products, reaching to almost eight gigabytes among all current vehicles. It’s said that the next line of Tesla cars will have 20 gigabytes.
But when it comes to the forefront of the automotive industry, Micron Technology Inc. (Nasdaq: MU) is one of the best semiconductor stocks to watch in 2021.
The company holds about 50% of the automotive memory market and has a long-standing relationship with Tier 1 suppliers. And not only does Micron make a wide variety of DRAM products, it also creates other memory tech for automakers like NAND, a storage technology that doesn’t need power to retain data.
The stock is currently breaking new highs and has 14 strong buy recommendations. Heck, I even have a price target of about $120 a share over the next 10 weeks.
But if you’re not ready to jump feet first into this semiconductor stock to watch in 2021, there’s one more ticker I suggest you take a look at. It’s actually an ETF that tracks semiconductors in general.
Check out the video below to reveal the next semiconductor stock to watch in 2021, and be sure to share your thoughts in the comments section.
And as always, don’t forget to subscribe to my YouTube channel if you haven’t already so you can be notified as soon as I post my next video!
P.S. One emmy-nominated journalist has a secret list from a former Wall Street analyst.
It contains a controversial truth about some of the richest CEOs and executives….
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You probably haven’t heard anything about this, because all this activity is done “behind closed doors.”
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