Monolithic Power Systems (MPWR, Financial) was a standout performer in the BlackRock Innovation and Growth Term Trust's Q2 2024 commentary. The company, operating in the semiconductor sector, benefited from the growing demand for AI-related technologies, which drove strong returns during the quarter.
"In the information technology space, excellent results in the semiconductor space were offset by some weakness in the IT services area. Within semis, Trust holdings Monolithic Power Systems, Inc. and ASM International NV both had strong returns during the quarter, fueled by continued excitement around artificial intelligence." — BlackRock Innovation and Growth Term Trust, Q2 2024 Fund Letter
Read full letter at gurufocus blackrock innovation and growth term trust q2 2024 commentary 2024 Q2 page.