Industrial chipmakers have been in rebound mode, with names like STMicroelectronics (NYSE: STM) leading the charge. The story in late April is that STMicroelectronics’ Q1 results not only affirm the rebound, which is centered on inventory normalization and improving demand, but also point to accelerating momentum. The net result is that its share price and those of its peers rocketed higher and are likely to continue rising in the long term.
This is not a simple normalization in play, but the acceleration of a multiyear semiconductor supercycle driven by demand in all segments.
