Shares of Axcelis Technologies (NASDAQ: ACLS) rallied 37.7% in November, according to data from S&P Global Market Intelligence.

The semiconductor equipment stock rode high on the back of a solid earnings report, and perhaps investors coming around to the fact that it is exposed to one of the more attractive parts of the semiconductor market.

While the chip sector had sold off rather hard this year on fears of a chip downturn, Axcelis' exposure to lagging-edge power chips is a big benefit, as that industry's strong growth prospects appear to be greater than the current cyclical headwinds.

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Source Fool.com