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Tower Semiconductor (TSEM) and Microchip Technology Incorporated (MCHP) are two of the top semiconductor stocks that will generate revenue through the rise of autonomous vehicles. Let’s take a look at each of these stocks to determine if either or both are worthy of your investing dollars.
TSEM makes semiconductor integrated circuits. This $2.2 billion business makes chips used for all sorts of applications. TSEM contributes to the electrical components that are the brains of automated vehicles. About 10% of TSEM sales stem from the automotive space. In particular, the company’s components are used in LiDAR and image sensor technologies empower autonomous vehicles to view the spaces around them. Electric vehicles also use TSEM’s tech for power management. This means TSEM has several revenue generators within the autonomous vehicle space alone.
