While the AI semiconductor market is largely on fire, semiconductor companies leveraged to electric vehicles and auto and industrial chips are actually in a downturn.

These stocks had maintained strong growth in 2022 and early 2023, but with the EV market slowing in the back half of this year and China's economy in the dumps, the auto, electrification, and industrial chip sector is now having the downturn other chip stocks felt in 2022.

Given how strongly AI chip stocks recovered after their 2022 downturn, electrification chipmakers may be a great place to look for bargain-priced stocks right now. One key player is ion implant equipment player Axcelis Technologies (NASDAQ: ACLS). With its stock now down 45% from its highs, is now the time to pounce on this key industry player?

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Source Fool.com