Decade-high inflation, consecutive rate hikes, and slowing demand have marred the optimal performance of the semiconductor and chip industry. In September, global semiconductor sales hit the lowest level of 2022 at $47 billion, down 3% year-over-year.
However, the lucrative CHIPS Act is expected to boost the domestic semiconductor and chip industry. According to President Joe Biden, "It's a game-changer." Moreover, investors' interest in semiconductor and chip stocks is evident from the SPDR S&P Semiconductor ETF's (XSD) 22.1% gains over the past month.
