January 16, 2026 08:34 AM GMT We are raising our CY26 and CY27 estimates for ADI and NXP above Street by 4%/3% for ADI and 5%/3% for NXP, respectively. While companies are yet to call a demand inflection, we are hearing more consistent indications of stabilization, with auto demand increasingly set to converge with other end markets, supporting broader recovery momentum. Both stocks have remained our key OWs this upcycle, and while the group as a whole should benefit from a broad-based pickup, we believe st ...