Lingering global supply chain issues have been marring the chip industry’s growth. Moreover, the industry has been witnessing slowing demand from the end markets due to dampened consumer spending amid macroeconomic headwinds.
Declining investors’ interest in the sector is evident from the SPDR S&P Semiconductor ETF’s (XSD) 12.6% decline over the past month. Also, the Philadelphia semiconductor index slumped almost 10% in August.
