35 Chip Stocks Powering AI Boom

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17. TE Connectivity Ltd. (NYSE:TEL)

Number of Hedge Fund Holders: 46     

TE Connectivity Ltd (NYSE:TEL) manufactures and sells connectivity and sensor solutions. The firm primarily focuses on providing these solutions for industries like automotive, industrial, and data communications. The AI-related offerings are mainly embedded in sensor technologies, which are used in applications like autonomous vehicles, smart factories, and connected devices. TE also integrates AI into edge computing solutions. The sensor and connectivity products contribute significantly to the overall revenue of the company, which was about $16 billion last year. The firm posted close to $4 billion in revenue for the third quarter of 2024.

TE Connectivity Ltd (NYSE:TEL) is on the radar of Wall Street analysts. Wolfe Research recently assumed coverage and upgraded the stock to Outperform from Peer Perform with an $187 price target. In an investor note, the advisory highlighted that revenues for TE Connectivity had been virtually flat for the last two years, mainly reflecting inventory destocking across several end-markets, but while there was still a tough macro backdrop, the company appeared well-poised to grow the top-line.

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