Semiconductors are advanced computer chips that power the digital aspects of our lives, from smartphones to the cloud computing technology hosting our online experiences. The chip industry outperformed the broader stock market handily in the five-year stretch between 2016 and 2021, but it's not faring so well in 2022.

The iShares Semiconductor ETF (NASDAQ: SOXX) is a barometer for the sector, and it's down about 37% so far this year, substantially more than the 22% loss for the benchmark S&P 500 stock market index. Should investors be worried? Or should they treat this as a buying opportunity ahead of further gains? 

The semiconductor industry is projected to be worth more than $1.5 trillion annually by 2030. Part of the reason for that is its increasing importance to advanced new technologies (like those needed in electric vehicles). This suggests it might be worth picking up some chip stocks while they're trading at a discount to all-time highs. Here's why Axcelis Technologies (NASDAQ: ACLS) and Cohu (NASDAQ: COHU) are two great chip stocks to buy on the dip. 

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Source Fool.com