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Moreover, consistent chipmaking breakthroughs should foster the industry’s long-term growth. The global semiconductor chips market is expected to grow at 7.8% CAGR and reach $553.60 billion by 2026.
Given this backdrop and the ongoing volatility in the market, fundamentally-sound and undervalued chip stocks Micron Technology, Inc. (NASDAQ:MU), NXP Semiconductors N.V. (NXPI), ON Semiconductor Corporation (ON), and Kulicke and Soffa Industries, Inc. (KLIC) are likely to witness a rally in the near-term.
