SOXX - 3 Semiconductor Stocks to Buy Now Including Nvidia
This week, a number of high-profile semiconductor companies confirmed that consumer electronics spending is hitting a rough patch. Nvidia (NASDAQ: NVDA) said that PC and laptop demand is hurting its video game segment, and Micron Technology (NASDAQ: MU) said PC and smartphone sales are going to be sharply lower in the second half of 2022 as device manufacturers work through built-up inventory of some components.
The market already knew trouble was brewing. Semiconductor stocks have declined 25% so far in 2022, as measured by the iShares Semiconductor ETF (NASDAQ: SOXX) . However, in spite of a deafening chorus lamenting the onset of a cyclical downturn in the chip industry, this ETF has rallied sharply off highs. The reason? Though consumer spending is hitting the skids, enterprise spending on chips for the cloud, data centers, artificial intelligence (AI), and the like is still going strong.
Three Fool.com contributors think chip stocks are a buy right now for the long haul. Here's why Nvidia, Micron Technology, and Kulicke and Soffa Industries (NASDAQ: KLIC) top their buy lists right now.
For further details see:
3 Semiconductor Stocks to Buy Now, Including Nvidia