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NXP Semiconductors(NASDAQ: NXPI) and NVIDIA(NASDAQ: NVDA) aren't direct competitors, but both companies provide chips for connected cars. NXP became the top automotive chipmaker in the world after buying Freescale four years ago, while NVIDIA's Drive platforms power a growing number of driverless cars.
Shares of NXP and NVIDIA both rallied about 60% this year and outperformed the Philadelphia Semiconductor Index's near-50% gain, despite persistent concerns about macro headwinds and sluggish chip sales. Let's see which semiconductor stock still has more room to run.