Published on 28 Dec 2023 on Zacks via Yahoo Finance

4 Stocks to Consider as the Semiconductor Market Rebounds

After enduring a downturn, the semiconductor industry seems poised for a substantial resurgence as global sales steadily pick up momentum. A period of sluggishness due to various economic challenges and supply-chain disruptions appears to be receding, paving the way for a significant rebound.

Despite year-over-year declines, the recent sequential monthly surge in semiconductor sales indicates a promising trajectory. The Semiconductor Industry Association reported a 3.9% month-over-month increase in global semiconductor sales, reaching $46.6 billion in October.

This sequential monthly growth trend has persisted for eight consecutive months, signifying a robust recovery. The resurgence also follows a strong third quarter of 2023 when sales escalated by 6.3% from the previous quarter to $134.7 billion.