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STM - Micron Technology: Best Chip Stock As Automobile Industry Transitions To EV
STMicroelectronics N.V.
Semiconductor demand per automobile increased 10% in 2022 and EVs consumer more chips than ICEs.
Micron stands out with positive financial metrics ahead of the other automobile semiconductor manufacturers.
High inflation of 8.5% in the U.S. will prove a setback for the auto industry as consumers weigh purchases of high-ticket items when food and gasoline prices skyrocket.