Aggressive rate hikes and recessionary concerns have recently resulted in a decline in semiconductors sales. During the third quarter of 2022, semiconductors sales totaled $141 billion, a decrease of 3% year-over-year and 6.3% sequentially.
However, the CHIPS Act, signed into law in August, directs $280 billion in spending over the next ten years to boost competitiveness, innovation, and national security in the U.S. semiconductor industry. This should keep the semiconductor industry afloat in the long term.
