Ace hardware fort morgan

Here is my humble, yet powerful Mobile Suit, my beloved messy son, MS PSP. Mobile Suit Psycho STNGRY Pegasus.

2023.03.22 06:39 DeliveryBeneficial65 Here is my humble, yet powerful Mobile Suit, my beloved messy son, MS PSP. Mobile Suit Psycho STNGRY Pegasus.

Here is my humble, yet powerful Mobile Suit, my beloved messy son, MS PSP. Mobile Suit Psycho STNGRY Pegasus.
Kits/Accessories Used Espossito Beta Special Operation Rabiot Yellow Armor Set EXA Vehicle White Air Fighter
Panel lining and ink weathering used for rugged, makeshift effects.
I'm still sort of new to crafting Gunpla, and know this looks the part, but I couldn't help but get excited and enthused about being able to choose my own accessories and base model to create my own original mech suit with the 30mm line.
The lore behind Psycho Stingray:
At the dawn of man's voyage into space in the 2130s, the United Nations left it up to national governments to institute their own migration policy on citizens leaving the Earth, now ravaged by climate change and catastrophic wars. Nations of the global south had little resources, and could not afford to transport their citizens to active spaceports in the migration period, and wealthy nations restricted migration to almost exclusively accommodate wealthy families and citizens first. This injustice led to two important factions being created:
The "40s" rose as an international coalition of people's fronts and confederated international alliences, concerned with fighting for the common man's right to seek a better life amongst the stars. The coalition would enliat the talents of nationally owned industry and private enterprise alike tk develop weapons and mobile suits to combat the hegemonic forces.To rival this powerful force of resistance came...
The Inter-Stellar Intervention Bureau. The ISIB was created as an internationally funded military project facilitated by the UN Security Council, meant to stifle and eliminate international and interstellar security threats that would threaten the status quo of interstellar travel and life. The ISIB had access to the most advanced and deadly technology in the solar system, and while they remain powerful, their fleets have struggled to contain the 40s ever since they completed production of their ace machine:
MS PSP, Psycho Stingray Pegasus. Fueled by an armored Neutrino Drive mounted on its chest, the mobile suit is a landmark in engineering, created by the United States Builders Union of Fort Lauderdale, Florida. The suit was designed with a focus on mobility and tactile invulnerability. Aside from being over 5x as fast as even the quickest mobile suits of thr Bureau, it has becomes notorious for it's use unique use of it's Neutrino Drive in battle. It dominates the battlefield using a pressurized reaction in it's neutrino drive to create a hypersonic attraction that pulls the suit as it moves into flight mode, covering it in a nigh impenetrable shield of plasma as it slices through capital ships and mobile suits like a knife from the heaven.
The pilot of the suit, Leon Kingston, is leader of Fort Lauderdale's chapter of the '40s, and his team often deploys him in the Stingray to swiftly dispatch Bureau patrols that would apprehend and harm illegal migrant partied traveling from Earth to Mars.
submitted by DeliveryBeneficial65 to 30_Minutes_Missions [link] [comments]


2023.03.22 04:02 Garyelatimer $1/.50 plo live! .50/.25 ROE live 🔥35% new player 1st buy in bonuses. 2 daily free rolls. 🎉lots of bonuses.✅ join code AXYKP

$1/.50 plo live! .50/.25 ROE live 🔥35% new player 1st buy in bonuses. 2 daily free rolls. 🎉lots of bonuses.✅ join code AXYKP submitted by Garyelatimer to pokerrrr [link] [comments]


2023.03.22 01:50 jjmeow8 Wasn’t expecting my local Ace hardware to have a resident cat

Wasn’t expecting my local Ace hardware to have a resident cat submitted by jjmeow8 to cats [link] [comments]


2023.03.22 01:40 Th3_Kooky_Fac3 help needed: trying to install Tiny10 on a Dell Dimension XPS R450.

help needed: trying to install Tiny10 on a Dell Dimension XPS R450.

hello, all!
I am here with a request for help installing Tiny10 (preferably 2303, or B2) on a 1998 Dell Dimension XPS R450 I got for free. - see the extra image for a portrait :). I have almost every copy of Tiny10 made to my knowledge (9 versions (see image 1), which I have not tried all, but I have tried at least 2), with some attempts more successful than others, but the farthest I got is a "Disk Read Error" almost immediately after the boot logo (see image 2). I know it's not the disk or any hardware that's broken because I was able to install and run Longhorn TWIWMTB on her, and LH worked so well, but as soon as I found out about Tiny10, I knew this was worth trying, especially since she can technically run.
she only has 384 MB of RAM, but I have run tests with as accurate of recreations of her as I could get on VirtualBox (2 cores, 20% limit, 8MB V-Ram, and as far as USB 1.1, and trying to make the HDD connection IDE, as I have on the new HDD I bought for this occasion), and she ran post-install but didn't have enough RAM to install,
so what I resorted to in this case, was:
  1. taking all of what I could take from the recreation-test VM(s),
  2. making the RAM suitable, installing it via VirtualBox,
  3. and then once the VM rebooted to set up the drivers/settle Windows into the VM's "hard"ware, shut down the VM at the VirtualBox screen
  4. flash the VHD to the HDD (sometimes I did run a clone of that VM to see if the shutdown broke it, but it always boots up like normal),
  5. pop the HDD in, and I always get that same error.
I got LongHorn in 1 shot, so there's something I'm missing.

from all that I remember, she has:
  • a Pentium II with 450MHz,
  • 384 MB of RAM.
  • a Maxtor FireBall 3 with 30 Gigz,
  • 8MB of VRAM,

if any upgrades were made, I think it would be the RAM, but that would be in the 2000s when I was little from my Uncle who at the time would've been far away (now even farther, but came a slight bit closer (I think) when he took the PC and tried to get the old pictures & stuff off of it, so maybe...
any help is appreciated, so if I don't respond, I didn't see the email I got in response. I may wear Fedoras, but those are only for style!
I will try to check back regardless,
thank you,
Kooky

images:
Image 1 (My on Hand Tiny10 Collection - I have tried 2209 x86, B2 (could not get past the product key step), and maybe 21H2 Beta 2)

Image 2 (The Error at Hand - the 'A' & 'P' are reflecting off of the inside of the bezel)

Extra - Arthur Morgan: My Free Dell
submitted by Th3_Kooky_Fac3 to tiny10 [link] [comments]


2023.03.21 21:16 Ok-Equivalent1460 I got this plant on clearance at ace hardware. White leaves were dropping a few yellow. The name said pearls and jade pothos. It’s starting to grow back but the white isn’t? What’s happening.

I got this plant on clearance at ace hardware. White leaves were dropping a few yellow. The name said pearls and jade pothos. It’s starting to grow back but the white isn’t? What’s happening. submitted by Ok-Equivalent1460 to plantclinic [link] [comments]


2023.03.21 21:01 Doumaz How the Stratocumulus volutus clouds over Texas looked like from space:

How the Stratocumulus volutus clouds over Texas looked like from space: submitted by Doumaz to CLOUDS [link] [comments]


2023.03.21 16:38 EliteDeerHunter GX470 Roof Racks

I've done the forum research, very few conclusive answers. Before I go emailing every manufacturer, which aftermarket roof racks use RUBBER SEALS instead of require you to RTV your roof? I have done the RTV racks before and it doesn't last and rubber seals could so easily be provided instead.
I believe the Sherpa Quandary uses rubber seals. Anyone know of any others?
Or, with which rack did you go to Ace Hardware and successfully get rubber seals for?
submitted by EliteDeerHunter to GXOR [link] [comments]


2023.03.21 16:37 twistidn00b [wts] Steiner Mk3 Battlelight (both IR and vis with CRANE PORT) , US Machinegun AK folding mount, A3 Tactical folding mechanism, Brand New Farrowtech MP5k end cap with1913 and QD cup

https://imgur.com/a/SxPMHxM pictures of everything
STANDARD RULES APPLY, YOU DIBS YOU PAY PROMPTLY, low/no flares must pay G&S at your own cost +3% I may pass over low/no flares for high flares if you seem sketch
submitted by twistidn00b to GunAccessoriesForSale [link] [comments]


2023.03.21 16:08 FlyWithSeedyL Release Notes - Sim Update 12 [1.31.22.0] Available Now

RELEASE NOTES 1.31.22.0

If you are playing on PC, outdated packages in your community folder may have an unexpected impact on the title’s performance and behavior.
If you suffer from stability issues or long loading times, move your community package(s) to another folder before relaunching the title.
[All Versions] How to Install a New Update Safely

NEW CONTENT/FEATURES

General Bug Fixes

Menu

Navigation/Traffic

Weather

Activity

Glass Cockpits

Garmin G3000 / G5000

G1000 Nxi

Garmin GNS430W / GNS530W

VFR Map

Aircraft

General

Helicopters

Airbus 310-300

Bell 407

Boeing 747-8 Intercontinental

Guimbal Cabri G2

Cessna 172 Skyhawk G1000

Cessna Citation CJ4

Cessna Citation Longitude

Curtiss JN-4 “Jenny”

Daher TBM 930

Darkstar

DG-1001E

Douglas DC-3

Grumman G-21 Goose

H-4 Hercules “Spruce Goose”

LS8

Ryan NYP “Spirit of St. Louis”

Wright Flyer

World

Airport

World Update 1 – Japan

* POIs:

World Update 2 – USA

* POIs:

World Update 3 – UK & Ireland

* POIs:

World Update 4 – France &Benelux

* POIs

World Update 5 – Nordics

* POIs:

World Update 7 – Australia

* POIs:

World Update 8 – Iberia

* POIs:

World Update 9 – Italy & Malta

* POIs

World Update 10 – USA

* POIs:

World Update 11 – Canada

* POIs:

40th Anniversary Edition / Sim Update 11

Game of the Year Edition

Top Gun Maverick

submitted by FlyWithSeedyL to MicrosoftFlightSim [link] [comments]


2023.03.21 15:18 Hobocop3000 I am the devil.

I am the devil. submitted by Hobocop3000 to gtaonline [link] [comments]


2023.03.21 15:07 Corentin-P-Research Recherche réparateur Smartphone spécialisé Firm/Software

Bonjour,
J'aurais souhaité savoir si quelqu'un ici connaitrait une réparateur de Smartphone qui pourrait régler des problèmes ne dépendant pas du hardware.
Un telephone Android que j'ai acheté :
Tout mes remerciements à quiconque pourra m'aider dans mes recherches.
Bonne journée à vous.
submitted by Corentin-P-Research to paris [link] [comments]


2023.03.21 15:02 Kush_Meeseeks Life in missoula

Came here from long island 8 months ago. Love how beautiful it is and all that but I just don't understand why people are so easily frightened in a place that looks like it's in a hallmark movie. I'm 26 years old I'm not leaving my backpack by the register while I shop (been to ace hardware like 20 times they know me and STILL make me put my bag in the front.) When I was a mail carrier i would constantly get "what are you doing on my property" WHILE SEEING IM IN UNIFORM AND HAVE MAIL IN MY HAND. I have zero criminal record and I feel like people look at me like I'm going to steal or something when I'm just smoking a joint and going for a nice walk. IDK just venting
submitted by Kush_Meeseeks to missoula [link] [comments]


2023.03.21 14:57 KBragg87 [USA-OH] [H] (switch) The Witcher 3, SSBU, Final Fantasy XII, NEO: TWEWY, Warioware, More Digital Indie Switch Games Consoles Accessories SNES Games Last of Us 2 (SE), LRG Games [W] Switch, Xbox, PS5 offers, Steam Deck

I am interested in trading a switch OLED + for a special edition Switch OLED. I am also looking for a steam deck which is the main reason why I have some hardware listed.
[H]
Digital Switch Games
Celeste
Katana Zero
Consoles
Meta Quest 2 (carrying case and comfort strap included)
Smash Ultimate Switch Console (cib. No game download)
Switch Oled white (cib)
Switch Games
Attack on Titan 2 final battle (sealed)
Bloodstained: Ritual of the Night Metal Case (No Game)
Bloodstained: Curse Of The Moon 2 LRG (sealed)
Bloodstained: Curse of the Moon 2 LRG (best buy variant)
Cadence of Hyrule (sealed)
Chrono Cross: The Radical Dreamers Editions (sealed)
Collection of Mana
Crisis Core (sealed)
Crisis Core Steel book
Cross Code (sealed)
Cuphead (sealed)
Final Fantasy XII (loose)
Fire Emblem Engage: Divine Edition (sealed)
For the King (sealed)
Mario Golf: Super Rush
Mario Strikers: Battle League
Mario Tennis Aces
Metroid Dread Collectors Edition
NEO: The World Ends With You
No More Heroes 1 LRG Collectors edition (sealed)
No More Heroes 2 LRG Collectors edition (sealed)
No More Heroes 3
Octopath Traveler 2 (sealed/hard trade)
Octopath Traveler 2 Steel book
One Piece Pirate Warriors 4
Pokémon Mystery Dungeon: Rescue Team DX (GameStop case)
River City Girls Zero (sealed)
Scott Pilgrim vs. the World: The Game (sealed)
Starlink Battle for Atlas
Star Wars: Knights of the Old Republic VHS EDITION (sealed)
Streets of Rage 4
Super Smash Bros Ultimate
Teenage Mutant Ninja Turtles: Shredder's Revenge CLASSIC EDITION (sealed)
The Witcher 3 (sealed)
Travis Strikes Again: No More Heroes
The Wonderful 101 Remastered (In generic GameStop case)
Warioware: Get it Together
Xenoblade Chronicles 3 Collectors Edition
YS IX
Zombies Ate My Neighbors and Ghoul Patrol LRG (sealed)
PS4
Final Fantasy VII Remake
Last of us 2 Special edition (sealed)
13 Sentinels: Aegis Rim (sealed)
Persona 5 Royal Steelbook edition (sealed)
PS5
Ratchet & Clank: Rifts Apart (sealed)
Spider-Man: Miles Morales Ultimate Edition (sealed)
Stranger of Paradise: Final Fantasy Origin (sealed)
Super Nintendo (all loose)
King of the Monster
Madden 97
Mighty Morphing Power Rangers
NBA Jam Tournament Edition
Super Mario Kart (Player's Choice)
Top Gear
XBOX One
Marvel Guardians of the Galaxy Cosmic Deluxe (sealed)
Accessories
8bitdo sn30 pro plus
PS5 Controller- Blue (sealed)
Skyward Sword Joycons (sealed)
Steam Controller
Super Smash Bros Ultimate Pro Controller (with box)
Xenoblade Chronicles 2 Pro Controller (with box)
[W]
Bayonetta 3
Kirby Return to Dreamland Deluxe
Pokémon Mystery Dungeon: Rescue Team DX (case only)
The Wonderful 101 Remastered (switch case only)
Steam Deck
Switch offer
XBOX ONE (series) offers
PS5 Offers
submitted by KBragg87 to gameswap [link] [comments]


2023.03.21 11:03 Powerful_Argument732 Semiconductor Stocks are on the move.....Industry group chart as of 3/17 at bottom of post

Semiconductor Stocks are on the move.....Industry group chart as of 3/17 at bottom of post
Semiconductor Stocks are on the move.....actually they have been on the move for some time and are now at the top....but for how long? The Fabless industry group has quickly ascended to the #2 of 197 industry groups as seen on the industry ranking chart at bottom of this post. I posted this for one of our members on his Discord channel because he had expressed interest in shorting certain stocks in the group a month or two ago....I suggested he reconsider for the group was making a strong move up. Now that they are at the top....shorting would be a lot less risky. But I prefer (and have to use in retirement accounts) to use Bear ETFs for betting against stocks or groups of stocks and SOXS fits that bill for me. I am not buying yet but may start adding small lots ($18+ / share with a 52-week high of $89.50) while we watch and see how well NVidia & AMD and others continue performing. And don't get me wrong....there are some semiconductor stocks that I will remain long in and continue reducing cost basis on - Mobileye is one of those. Here is a thorough assessment on these stocks for your review:
Semiconductor Stocks Climb Yet Inventories Bedevil Chip Industry; A Reality Check May Be Coming
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PATRICK SEITZ03:32 PM ET 03/15/2023
Semiconductor stocks were a godsend to investors in February as the overall market backed off from January's advance. After a strong first month of the year, chipmakers scored more gains. That was especially true for the fabless semiconductor industry, which rose another 6.3% on strength in stocks like Nvidia (NVDA), Monolithic Power Systems (MPWR) and Advanced Micro Devices (AMD).

X
Yet during that same period, as chipmakers reported December-quarter earnings, a raft of data on shipments, prices and inventories showed the semiconductor industry still in a downturn.

Cyclical investors, those practiced at speculating on semiconductor stocks' reversal from their deep, periodic downturns, were betting on a bottom.

Old Industry Cycle, New Twist
But this cycle from the start has been unlike others in a long history of semiconductor industry booms and busts. The cycle made its way through the pandemic years of distorted demand trends and knotted supply chains. Then, as cyclical investors moved into many top stocks, leading them to flash early signs of an upturn, another factor also came into play. Another sort of optimism, fueled by views that increasingly diverse end markets signaled a more durable, stable chip industry, also helped bolster the upturn.

Among fabless chip stocks, Nvidia surged more than 58% for the year through February. Monolithic Power rallied 37%. Among chip manufacturers, ON Semiconductor (ON), more commonly known as Onsemi, and STMicroelectronics (STM) surged 24% and 50%, respectively.


Some semiconductor stocks continue to climb. Still, an array of fundamental chip industry metrics point to difficulties ahead. In particular, many semiconductor companies report stubbornly high inventories in their sales channels and with customers. A large segment of analysts accustomed to assessing chip cycles say investors who put the bottom in semiconductor stocks at the end of 2022 might be prematurely optimistic.

"If you listen to all the (earnings) calls, no one has said that this is the bottom or that it's definitely going to get better soon," Robert Maire, an analyst with consulting firm Semiconductor Advisors, told IBD.

SEMICONDUCTOR GROUPS: 2023 PERFORMANCE
Semiconductor-related groups are three of the 197 industries tracked by IBD. See how tracking industry performance can improve your investing results.
YTD gain*
S&P 500 1.4%
Nasdaq 9.2%
Chipmakers 13.6%
Fabless companies 22.9%
Mfg. equipment 13.8%
*Through 3/15/23
Pandemic Disrupted Semiconductor Industry Cycle
One thing is certainly true: The semiconductor industry's end markets are more diverse now than during past chip cycles. The determining factor in prior booms and busts was personal computer and smartphone sales. Now computer chips have made their way into many more devices. This lessens the industry's dependence on any one major product type.

The present chip cycle shows memory chips, PC processors and chips for smartphones and consumer electronics clearly in a downturn. At the same time, chip sales in automotive and industrial markets have remained strong.

But overall, the wild swings in demand for tech products during the Covid-19 pandemic have led to a steeper-than-usual down cycle, Semiconductor Advisors' Maire says.

"The industry got whipsawed by Covid and the supply chain issues," Maire said. "We went from a shortage to an excess in a pretty short span of time."

Semiconductor Stocks: Industry Recovery In Late 2023?
A clear risk factor for rising chip stocks is that the semiconductor industry still must reconcile its bloated inventories, Jefferies analyst Christopher Wood said in a recent note to clients. He warned of a "coming chip glut."

"The market action is assuming, heroically, a bottoming out of the semiconductor inventory correction in the first half of this year and a presumed recovery in demand in the second half, of which there is for now no evidence," Wood said.

Wall Street analysts generally expect sales in the broader chip market to turn positive in the second half of 2023. Many see PC chip sales as among the first segments that will turn around. That should help chipmakers AMD and its archrival Intel (INTC).

Micron technician
A technician puts on covers for his shoes as he prepares to enter the clean room at the Micron Technology automotive chip manufacturing plant Friday Feb. 11, 2022, in Manassas, Va. (AP Photo/Steve Helber)
It is also possible, however, that the "orgy" of pandemic buying of PCs in 2020 and 2021 could also depress demand for three to four years, Wood says. Smartphone sales face a similar possibility, he says.

"Meanwhile, chips used in the auto sector are now seeing a big surge in inventory," Wood said. "The previous shortage of automotive chips has led to substantial double ordering."

Analysts see AMD sales and earnings falling through the first two quarters, then turning higher, according to FactSet. Intel is expected to shift from loss to profit in Q3 and post an earnings gain as sales edge higher in Q4.

World Semiconductor Trade Statistics forecasts a 4.1% decline in semiconductor sales in all of 2023. Sales rose 4.4% in 2022 and surged 26.2% in 2021.

Artificial Intelligence Spurs Semiconductor Industry Investments
Among the markets for more advanced chips, the data center market, tied to web services and cloud computing providers, is showing some signs of weakness. One clear exception is the portion of that market tied to artificial intelligence, especially graphics processors.

Excitement around generative AI applications, such as ChatGPT, has provided a lift for certain semiconductor stocks seen as beneficiaries of the trend.

Nvidia leads that group with its graphics processing units, accelerators, high-performance computing hardware and software. Other chip stocks likely to benefit include Broadcom (AVGO) for its application-specific integrated circuits and Marvell Technology (MRVL) for its high-speed networking and ASIC chips.

As a result, Broadcom earnings and sales have powered ahead, paying little mind to the pandemic's potholes. For Marvell, analysts see sales and earnings declines for the first three quarters this year, turning to narrow gains in the fourth quarter.

"There is a clear shift in spending priorities (by cloud service providers) to AI and technical infrastructure," Jefferies analyst Mark Lipacis said in a recent note to clients. "We view Nvidia as the biggest beneficiary of the shift in spend to AI, and Broadcom and Marvell as beneficiaries in networking upgrades and semi-custom chips."

Downturn In Memory Chips
Like the prior chip cycle downturn, which lasted from late 2018 until early 2020, memory-chip makers have led the current correction. Micron Technology (MU) and other memory-chip makers started warning about weakness in the market in mid-2022.

The big wrinkle with this cycle in semiconductor stocks is the disruption caused by the Covid pandemic. As the pandemic got underway in early 2020, work-from-home and remote education trends fueled a buying binge in PCs and tablets. Consumers also splurged on consumer electronics and home appliances as they sheltered in place.

Then pandemic fears faded and the economy reopened. Consumers shifted their spending away from electronics. Analysts now project Micron will book losses in all four quarters of this fiscal year, dropping for the year to an estimated $2.20 loss per share, vs. an $8.35 profit for 2022.

Sales are forecast to turn up in the quarter ending in September, with the company shifting from loss to profit in the December-ending quarter.

Automakers Still Dealing With Chip Shortages
Automakers faced a severe shortage of chips during the pandemic. It was the result of a two-step process: first, they canceled orders ahead of a projected falloff in demand for new cars and trucks. But demand held steady. When carmakers went to place new orders, they found themselves at the back of the line at chip foundries. Only recently have the auto chip shortages started to ease.

In general, automakers use older chip technology. The semiconductor industry's production capacity for those chips is more limited than for higher-margin, leading-edge chips, such as those made by Taiwan Semiconductor Manufacturing (TSM).

Semiconductor companies serving the auto market include Onsemi and STMicroelectronics, as well as NXP Semiconductors (NXPI) and Texas Instruments (TXN).

But across all of those segments of the chip landscape, unpredictable consumer behavior and knotted supply chains altered the traditional chip-cycle metrics.

"Covid threw a wrench into the cycle," Bill Jewell, a consultant with Semiconductor Intelligence, told IBD.

Factories shut down at the start of the pandemic and then reopened to chase a rapid acceleration in demand for PCs and other devices. Then consumers, after they had what they needed, stopped buying, Jewell says.

"PCs and smartphones account for so much of semiconductor consumption, especially memory, that when those slow down, it has a big impact on the market," Jewell said. "Automotive and industrial markets are holding up but they are not as big as the personal computer and smartphone markets."

For this year, analysts see STMicroelectronics earnings rising in Q1 and Q2 before undercutting year-ago levels. Sales and earnings forecasts for Onsemi, NXP and Texas Instruments are lower throughout the year.

SEMICONDUCTOR STOCKS PERFORMANCE
Fabless
YTD gain* Stock Price
NVDA Nvidia 65% 234.78
LSCC Lattice Semiconductor 43% 87.14
MPWR Monolithic Power Systems 40% 468.58
CRUS Cirrus Logic 38% 99.2
AMD Advanced Micro Devices 35% 86.75
Chipmakers
ALGM Allegro MicroSystems 50% 43.71
STM STMicroelectronics 39% 46.38
ON Onsemi 30% 76.23
SWKS Skyworks Solutions 24% 110
TSM Taiwan Semiconductor 20% 85.51
* to March 15
Semiconductor Stocks Vs. 'Trough-Calling Euphoria'
Deutsche Bank analyst Ross Seymore sees the semiconductor industry situation as a hangover from pandemic disruptions.

"After about two years of semiconductor shortages resulting in a revenue/margin 'party' for the sector, the sector's fundamentals have pivoted to the 'hangover' stage," Seymore said in a recent note to clients. The hangover is illustrated by chipmakers lowering their revenue and earnings estimates for the past two quarters in the face of record-high inventories, he said.

Chip Stocks To Watch And Semiconductor Industry News

Investors observing the recent weak earnings reports now anticipate a trough in the first half of 2023 and a fundamental recovery in the second half of the year, Seymore said. That optimism reflects in this year's rise of the Philadelphia Semiconductor Index, or SOX.

Year to date, the SOX is up 15.5% vs. a 1.6% rise for the S&P 500. The SOX includes the 30 largest chip stocks traded in the U.S.

"While we've seen this cyclical investing 'playbook' used successfully many times in the past, we also note that the timing and slope of the eventual recovery quickly becomes paramount once the trough-calling euphoria subsides," Seymore said.

He added, "We remain somewhat concerned that the magnitude of inventory builds coupled with still mediocre demand may limit the slope of the revenue, margin and EPS (earnings per share) recovery — even if first-half 2023 is indeed the bottom."

Chip Inventories Hit Record Highs
Aggregate inventory data across 26 of the largest semiconductor companies shows that inventories in the fourth quarter reached their highest levels since Deutsche Bank began collecting such data in 1994, Seymore said.

"The industry has finally entered the hangover stage, with the primary concerns going forward focused on the duration/magnitude of the headache, and equally importantly the timing/slope of the eventual recovery," Seymore said.

With such a cautious outlook, Seymore is focused on semiconductor stocks with reasonable valuations and company-specific catalysts. His favorite names include Broadcom, Marvell, MaxLinear (MXL), NXP Semi, Onsemi and Qualcomm (QCOM).

Auto Chip Stocks Remain Strong Segment
Meanwhile, demand for automotive chips should continue to hold up in 2023, buoying companies like Allegro MicroSystems (ALGM) and NXP, Wells Fargo analyst Gary Mobley said in a recent note to clients.

Production constraints caused by chip shortages hindered automobile sales for more than two years. And there remains a pent-up demand for new vehicles, Mobley said.

Plus, automotive-chip makers are benefiting from increased semiconductor content in each vehicle. That is thanks to the trends of electrification and autonomy, he said.

"As long as light vehicle unit production continues to improve toward normalized levels, higher (chip) inventories are needed," Mobley said.

FactSet consensus estimates show earnings gains for Allegro over the next thee quarters before slowing. Sales gains are forecast for the next five quarters.

'Soft Landing' For Semiconductor Stocks?
Most analysts are predicting a rolling recovery with some segments turning positive earlier than others.

Evercore ISI analyst C.J. Muse has forecast a "soft landing" for chip stocks and the semiconductor industry rather than a harsh downturn. Also, the reopening of the China economy should help with the recovery, he said in a note to clients.

Daniel Morgan, senior portfolio manager at Synovus Trust, underscored that the health of the semiconductor industry is a key barometer for the overall tech sector.

"The semiconductor sector is the plankton of the technology and manufacturing ocean," Morgan said in a recent note to clients. "Everything requires chips in it to run. Typically, the chip sector will lead the technology sector out of the valley and will be one of the first sectors to show green sprouts foreshadowing a pending recovery."

But Morgan added, "At this point there are few signs of a rebound."

And the upshot for investors in semiconductor stocks? The downtrend in the chip cycle started in the third quarter of 2022. It could persist for six quarters, similar to the 2018-2019 downturn, Morgan said.


https://preview.redd.it/n3ft9lfdd2pa1.png?width=1084&format=png&auto=webp&s=4d304fea5b6d897c6ee3d2149af330fd1ec3e7f2
submitted by Powerful_Argument732 to MotleyFools [link] [comments]