Semiconductor stocks rallied sharply in 2023, with the sector among the best-performing S&P 500 sector classes. Against the backdrop, an analyst said on Tuesday he views the group as expensive on the 2024 estimates but remains positive about names levered to the “2nd Wave of AI.” What Happened: Barclays analyst Tom O’Malley said in a note he remained below the 2024 consensus estimates for nearly two-thirds of his coverage universe. Investor focus, however, has shifted to 2025, the analyst said, adding that he expects robust positive inflection for most end markets. KeyBanc Capital Markets anal…
