Published on 10 Apr 2023 on Zacks via Yahoo Finance
5 Semiconductor Stock to Buy to Enhance Your Portfolio
Wall Street finished first-quarter 2023 on a positive note. Of the three major stock indexes, — the Dow — the best performer of 2022 — was up a mere 0.4% in first-quarter 2023. The broad-market index — the S&P 500 — was up 7%. Surprisingly, the tech-heavy Nasdaq Composite rallied 16.8% last quarter.
Within the technology sector, the rally was predominantly driven by the semiconductor industry. The Philadelphia Semiconductor index (SOX) is up 21.3% year to date. The use of chipsets is increasing rapidly in various industries of the economy. This will act as the primary catalyst for long-term growth.
Strong Demand for Chipsets