Even though prolonged chip supply shortage and tech sell-offs due to aggressive interest rate hikes have been significantly affecting the performances of semiconductor stocks this year, the growing demand for advanced and efficient chips and rising sales should help the industry to stay afloat.
Also, favorable policy support and increasing corporate investments to ramp up production should drive the industry’s growth. Therefore, prominent semiconductor stocks STMicroelectronics N.V. (STM) and Micron Technology, Inc. (MU) should benefit.
