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The U.S. government has been taking steps to boost domestic semiconductor production capacity to make the U.S. globally competitive. Though the U.S. Innovation and Competition Act, which contains the CHIPS Act, is currently stalled in the House of Representatives, U.S. Commerce Secretary Gina Raimondo has urged the House to pass the legislation immediately.
Demand for semiconductors is expected to rise over time given the rapid digitization of virtually all industries. Thus, we think renowned semiconductor stocks Analog Devices, Inc. (ADI), Lam Research Corporation (LRCX), and KLA Corporation (KLAC) could be solid bets now.
