1 Better Memory Chip Stock Than Micron for 2023 as the Chip Downturn Rages On
The chip industry is currently dealing with one of the worst downturns in PC and smartphone sales in recent history. After several years of pandemic-fueled consumer-electronics purchasing (due to work-from-home orders), households are now paring back spending on computing devices.
This is happening just as the supply of some chips and components is making a comeback from early pandemic lockdowns. Companies like Micron Technology (NASDAQ: MU) have been clobbered as a result (its stock is down more than 40% over the last 12 months) as device manufacturers hit the brakes on memory chip orders to work through existing inventory.
But one memory-chip market company could fare better than Micron in 2023: Silicon Motion Technology (NASDAQ: SIMO). The company's sales have been holding much steadier during the current downturn, and it pays a healthy dividend for investors in search of income. Here's what you need to know about this small company.
Source Fool.com
