Marvell takes No. 1 spot from Nvidia at Citi, Universal Display gets a downgrade

News Snapshot:

Citi Research moved Marvell Technology (NASDAQ:MRVL) to its number one pick and pushed Nvidia (NVDA) to the second spot. The firm also downgraded Universal Display (NASDAQ:OLED) to Neutral. The analysts updated their specialty semiconductor coverage rankings and moved their Buy-rated Marvell (MRVL) to number one as they like the stock setup in 2024 on continued Artificial intelligence, or AI, optics growth, layering of custom Application-Specific Integrated Circuits, or ASIC, AI project sales, and bottoming out of non-cloud markets like enterprise networking and carrier. The analysts pushed Buy-rated Nvidia (NVDA) down to #2 following a 20%+ stock run into CES trade...