Chipmakers are by far the hottest stocks in the market, but their recent surge is lending urgency to the debate over whether investors are buying into an artificial-intelligence bubble that's due to burst.
The Philadelphia Stock Exchange Semiconductor Index is on pace for its best quarter ever after soaring 69% in the past two months. Chips are the best performing sector in the S&P 500 Index this year by a wide margin. The gains have gotten so extreme and widespread that the group is now heavily represented among the benchmark's leading stocks.
