The semiconductor industry witnessed significant supply chain disruptions in 2022. However, according to Peter Voser, the chairman of Swedish-Swiss tech and engineering giant ABB, the global shortage of semiconductors is expected to ease this year.
Moreover, the CHIPS Act is expected to bolster the industry further. It allocates $52.70 billion for American semiconductor research, development, manufacturing, and workforce development. Lucrative federal investments are expected to help the semiconductor industry thrive in the upcoming terms. The global semiconductor industry is projected to grow at a CAGR of 7% until 2030.
Therefore, quality stocks Advanced Micro Devices, Inc. (AMD) and STMicroelectronics N.V. (STM) are expected to gain significantly. AMD and STM are popular chip makers operating globally.
AMD has gained 16% over the past month, while STM has gained 32.8%. Also, AMD has lost 20.5% over the past three months, while STM has gained 24.5%.
Which stock is a buy? Let’s find out.
On December 1, 2022, AMD and…
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