While last year was a difficult one for the semiconductor industry, this year’s bullish outlook for the market is buoyed by continual consumer demand, technological progress, and heightened investments. So, investors could consider buying robust chip stocks QUALCOMM Incorporated (QCOM) and Everspin Technologies, Inc. (MRAM). However, avoiding Indie Semiconductor, Inc. (INDI) could be ideal.
The semiconductor industry experienced a decline in 2023, with global sales decreasing 10.9% year-over-year to $534 billion. However, swift recovery is anticipated this year, driven by increasing demand for AI, high-performance computing, smartphones, and automotive applications, coupled with rising prices and the shift to advanced processes in the industry.
