3 Cheap Chip Stocks to Buy Now
With the Nasdaq composite down 31% year to date, there has been a lot of doom and gloom when it comes to tech stocks. While it doesn't feel good to see your portfolio down in the short term, over the long term, sell-offs like these create the opportunity to buy some game-changing stocks at discounted prices.
Semiconductor stocks look particularly interesting in this light. These stocks have suffered in 2022 as the industry grapples with supply chain issues and fears that a recession will dampen demand. The VanEck Semiconductor ETF, which holds 25 semiconductor stocks, is down 38% in 2022. But over the long run, the picture looks as bright as ever. More semiconductors are going into automobiles, data storage, and industrial end markets. Industry bellwether Intel forecasts that annual spending on semiconductors will rise from $600 billion now to $1 trillion globally by 2030. Here are three top chip stocks that trade for attractive valuations, pay dividends, and serve end markets with significant growth ahead over the long term.
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Source Fool.com
