A trio of semiconductor stocks — NVIDIA (NVDA), Qorvo (QRVO), and Skyworks (SWKS) — earn a place on tthis month’s list of top picks, explains Nate Pile, growth stock expert and editor of Nate's Notes.

Investors should look at good relative strength in any of them as an excuse to buy rather than a reason to sell at this stage of the game.

As you can see in the chart below, if NVIDIA’s stock fails to push into new high territory in the days and weeks ahead, we will have to consider the possibility that a dreaded (at least by chartists) “triple top” may be forming for the stock.

chart 1

However, if it does happen to start setting new highs again, you are strongly encouraged to view the move higher as not only a sign that our current assessment of the market is correct, but also as a reminder that “just sitting” is probably the smartest thing one can do during a bull market.

For those of you who are new to the NVDA story, this stock was still trading in the $25-$30 range a mere two years ago!). Even if you can only afford a few shares, NVDA is a strong buy under $230 and a buy under $250.

Qorvo was a bit of an anomaly last month based on the relative strength it was showing when compared to other stocks we follow, s o we bought some/

And, as you can see in the chart below, it actually closed at an all-time high recently, an event that cannot be called anything but “bullish”. And so, not surprisingly, I am adding a few more shares to our portfolio again this month.

chart 2

There has been no news that I can find to account for the price action, so I believe we have no choice but to chalk it up to being additional evidence that we are, in fact, in “the sweet spot” right now in terms of this stage of the bull market! QRVO is now considered a strong buy under $80 and a buy under $90.

Though Skyworks hasn’t managed to follow Qorvo’s lead by hitting new all-time highs just yet, it is hard to not be excited by the chart below.

chart 3

If Skyworks’ stock does, in fact, manage to climb into new high territory, you are naturally encouraged to count it as yet another piece of evidence that the bull market isn’t over yet!

I am raising the buy limits a bit this month and adding more shares to our portfolios, and you are encouraged to follow my lead as part of building a position. SWKS is now a strong buy under $105 and a buy under $120.

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