2 Chip Stocks to Ride the Semiconductor Growth Wave

The semiconductor market is on a roll this year. According to the World Semiconductor Trade Statistics, global semiconductor revenue will grow 11.5% this year to $378 billion, a remarkable upgrade over the initial growth forecast of just 3%.

Strong memory pricing has played a critical role in the market's massive growth, thanks to the undersupply of DRAM (dynamic random access memory) and NAND memory. Looking ahead, semiconductor sales are expected to improve once again next year as memory market players will keep supply tight to maintain the pricing momentum.

Industry watchers forecast a 2.7% jump in semiconductor sales next year, though actual revenue could jump further as memory pricing momentum is slated to continue in 2018. This is great news for memory specialist Micron Technology (NASDAQ: MU), though investors shouldn't ignore the potential of Skyworks Solutions, (NASDAQ: SWKS) either, as it is on track to take advantage of another fast-growing sub-segment of the semiconductor space.

Source: Fool.com