After a difficult year for chip stocks, Bernstein is telling investors to take advantage of the share price declines and buy three semiconductor companies that have the best product outlooks.

On Friday, analyst Stacy Rasgon recommended Advanced Micro Devices (ticker: AMD ), Nvidia (NVDA), and Qualcomm ( QCOM ). He believes expectations for the stocks are now low enough for investor sentiment to surprise on the upside next year. The analyst has Outperform ratings on the three chip makers.

Source: finance.yahoo.com