Inflation is currently at a 40-year high, which has sent the U.S. Federal Reserve on one of its most aggressive campaigns to increase interest rates in its history. It has driven consumers to tighten their belts while also hitting the bottom line of corporate America.
For those reasons, major market indexes like the S&P 500 and the Nasdaq 100 have swung in and out of bear-market territory all year. Many individual stocks in the technology sector have been crushed far worse than the broader markets, with losses of 50% or more becoming common in 2022.
But not Axcelis Technologies (NASDAQ: ACLS) . That stock is flat for the year after logging a whopping 54% gain in the past month alone. But it gets better for the semiconductor-service company because it reported its financial results for the second quarter of 2022 on Aug. 4 and saw a considerable increase in both its sales and profit.
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1 Blockbuster Semiconductor Stock to Buy Right Now