Published on 30 Nov 2021 on Insider Monkey via Yahoo Finance
10 Best Performing Semiconductor Stocks of 2021
In this article, we discuss the 10 best performing semiconductor stocks of 2021. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Performing Semiconductor Stocks of 2021.
Semiconductor companies have witnessed a dramatic increase in revenue this year as a chip shortage, due to supply chain pressures and surging demand, hits major industries like consumer electronics, auto manufacturing, and even the software universe, fueling an unprecedented hike in chip prices. The situation has forced United States President Joe Biden to incentivize chip manufacturing in the country in a bid to decrease American reliance on Chinese chipmakers. These chips are a critical component of the modern-day defense technologies as well.
According to a report by the Semiconductor Industry Association, a trade association based in Washington, more chips were shipped to customers in the third quarter of 2021 than in any other quarter since records started being kept. The body estimates that between June and September this year, global sales of semiconductors stood at close to $145 billion, up over 27% year-on-year and close to 7.4% quarter-over-quarter. In September alone, nearly $50 billion worth of chip sales were made.