Semiconductor stocks got clobbered this year, getting hit by the fallout from the U.S. Federal Reserve's interest rate hikes, China's weakening economy, a drop in consumer electronics purchases, and a growing risk of a recession in 2023. As measured by the iShares Semiconductor ETF , chip stocks are down over 31% in 2022 compared to a 29% decline for the Nasdaq Composite index.
Things were much worse in early October, but they eased somewhat as chip stocks went on a more than 30% rally over the last two months. Many of these rock-solid companies were getting unfairly punished, and shares were cheap. But even after this short-term run-up, those who make or work with tech's basic building blocks are still worth putting on your watch list.
Three Fool.com contributors like Lam Research (NASDAQ: LRCX) , NXP Semiconductors (NASDAQ: NXPI) , and Skyworks Solutions (NASDAQ: SWKS) right now. Here's why these three semiconductor stocks are worth a closer look right now.
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Semiconductor Stocks Are On the Rise: 3 Companies to Watch Right Now