3 Semiconductor Stocks Fueling Year-End Triumphs

[Investing Insights Daily]( December 18th, 2023 [3 Semiconductor Stocks Fueling Year-End Triumphs]( In the modern age, chips are frequently referred to as the [‘new oil’]( because of their crucial significance across various sectors such as automotive, consumer electronics, and defense. Furthermore, the infusion of government funds to bolster national security further augments optimism for the industry’s prospects. Against the backdrop, scooping up the shares of three fundamentally solid semiconductor stocks, QUALCOMM Incorporated ([QCOM]( – [Get Rating]( Tower Semiconductor Ltd. ([TSEM]( – [Get Rating]( and ChipMOS TECHNOLOGIES INC. ([IMOS]( – [Get Rating]( might lead to potential gains. Despite confronting persistent challenges stemming from current macroeconomic conditions that impose short-term pressures on the sector, the semiconductor industry is anticipated to rebound strongly in the upcoming year. For instance, despite a projected 9.4% decline in annual global sales in 2023, World Semiconductor Trade Statistics (WSTS) forecasts the semiconductor industry’s global sales to climb to $588.40 billion, marking a [13.1% year-over-year increase]( in 2024. Meanwhile, the latest data from the Semiconductor Industry Association (SIA) revealed a 3.9% uptick in global semiconductor industry sales, reaching $46.60 billion in October 2023, compared to $44.90 billion recorded in September 2023. “The global semiconductor market grew on a month-to-month basis for the eighth consecutive time in October, demonstrating clear, positive momentum for chip demand as 2023 winds down,” said John Neuffer, SIA president and CEO. Neuffer anticipates a decline in year-end sales for 2023 compared to 2022. Nonetheless, he projects a strong rebound in the global semiconductor market, with double-digit growth expected for 2024. Substantial government contributions further underscore the industry’s promising future. Last year, President Biden enacted the [CHIPS and Science Act (CHIPS)]( which aims to enhance American competitiveness, fortify U.S. supply chains, and… Continue reading at [STOCKNEWS.com]( NOTE: If URLs do not appear as live links in your e-mail program, please cut and paste the full URL into the location or address field of your browser. [Privacy Policy]( | [Terms & Conditions]( This email contains a paid advertisement.This is not a solicitation for the purchase or sale of securities. Readers are encouraged to conduct their own research and due diligence, and/or obtain professional advice, prior to making any investment decision. Advertisements and sponsorships are provided as a service to Stock News users. Stock News is not responsible for their content, services or products. The statements and opinions contained in this advertisement are not those of Stock News, and Stock News disclaims any liability for or arising from such statements and opinions. You are hereby advised that Stock News is receiving a fee as compensation for the distribution of this advertisement. [Click here to unsubscribe]( Copyright © 2023 Investing Insights Daily News, part of StockNews.com - POWR Stock Rating, Market Outlook & Investment Insights Magnifi Communities, 1 Penn Plaza, Suite 3910, New York, NY 10019