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Barchart
Barchart
Pathikrit Bose

1 AI Semiconductor Stock to Buy and Hold for the Long Term

TSM Semiconductor Nvidia Taiwan Semiconductor Apple

The recent Nvidia (NVDA) share price sell-off has turned into a serious jolt for artificial intelligence (AI) stocks more broadly. After experiencing a gravity-defying rally for nearly two years, Nvidia's record-breaking downturn has made some investors question whether the hypergrowth phase is over for the market's favorite AI stocks.

However, the fundamental data suggests that demand is firmly intact. The Semiconductor Industry Association (SIA) recently reported that sales for July were 18.7% higher year over year at $51.3 billion, with global sales expected to touch $588 billion in 2024. Notably, consulting firm McKinsey forecasts that by the end of this decade, the global semiconductor industry is poised to become a trillion-dollar market. 

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