The chip industry is currently dealing with one of the worst downturns in PC and smartphone sales in recent history. After several years of pandemic-fueled consumer-electronics purchasing (due to work-from-home orders), households are now paring back spending on computing devices.
This is happening just as the supply of some chips and components is making a comeback from early pandemic lockdowns. Companies like Micron Technology (NASDAQ: MU) have been clobbered as a result (its stock is down more than 40% over the last 12 months) as device manufacturers hit the brakes on memory chip orders to work through existing inventory.
But one memory-chip market company could fare better than Micron in 2023: Silicon Motion Technology (NASDAQ: SIMO) . The company's sales have been holding much steadier during the current downturn, and it pays a healthy dividend for investors in search of income. Here's what you need to know about this small company.
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1 Better Memory Chip Stock Than Micron for 2023 as the Chip Downturn Rages On