Chip Stocks Rally Expected As Biden’s Address on 29/11 Approaches🥳🥳🥳
Biden’s 1st stop after Thanksgiving will be a visit to Bay City, Michigan on 29/11. He will address and discuss his administration’s policies that helped spur chip production in states like Michigan. When he does, it will boost chip stocks across the country🥳🥳🥳 as he will be touting the economic benefits of helping 🇺🇸-based chip makers and highlight the potential of the sector as a whole.
It was recently reported that chip stocks are facing a troubling economic landscape amid weakening PC demand. However, that doesn’t mean that chip makers are destined for a difficult year ahead. WHY❓
(1) Biden has prioritised boosting chip production throughout his time in office. ‼️ Most notably, he signed the Creating Helpful Incentives to Produce Semiconductors for America (CHIPS) Act.
(2) Semiconductors are also an essential part of EV production, an area in which demand has spiked in 2022 and is expected to keep increasing🥳🥳🥳
🤓 What are Some Chip Makers that Supply EVs❓
(1) $Qualcomm(QCOM)$ ➡️ is 🇨🇳 EV makers top choice‼️ XPEV, NIO, Li Auto all use QCOM’s flagship Snapdragon SA8155P chip in their vehicles👍👍👍
(2) $NXP Semiconductors NV(NXPI)$ Is highly concentrated on supplying auto technology as it has a broad portfolio of solutions from actual battery management and powertrain parts to infotainment to advanced driver assist (ADAS) hardware.
🏆This is significant, because when NXP lands a deal for 1 part of a vehicle, it has the opportunity to cross-sell its portfolio on other fronts as well😉
(3) Texas Instruments (TXN) is an industry bellwether poised for steady growth. TXN produces all sorts of hardware needed in computing systems and electronics and the automotive industry is a top purchaser.
⭐️ TXN provides components for EVs and hybrid cars in areas like battery management, charging, transmission, and power-steering parts. Paired with its digital chips, these analog parts (chips that interacts with real-world inputs) make TXN a top way to play the technological advance of vehicles.
Fellow 🐯🐯🐯, which EV chip stocks are you bullish for❓
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Source Websites: South China Morning Post & Motley Fool.
Modify on 2022-11-24 17:10
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