These 2 Small Chip Stocks Are Booming Thanks to Electric Vehicles
The modern vehicle is undergoing rapid change. Automakers around the world are working on new electric vehicle (EV) lineups. With that change in drivetrain from internal combustion engine to battery-powered motors, other features are being added to EVs, like advanced driver assist systems and in-cabin digital displays.
Basically, electronic components account for a much larger portion of the cost of producing a vehicle. This has been a boon for the semiconductor industry. Two small stocks that are booming right now as a result are indie Semiconductor (NASDAQ: INDI) and Aehr Test Systems (NASDAQ: AEHR). Here's why these two EV chip stocks are worth a look right now.
Indie Semiconductor is a tiny chip designer solely focused on automotive solutions. This tiny business has exploded onto the scene in the last couple of years. Through the first half of 2022, revenue was up 176% year over year to $47.8 million. This is a tiny business, but at this pace, it won't be for long.
Source Fool.com
