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Share prices of US semiconductor firms 'best for a decade'

New industry data has revealed that US-based semiconductor stocks have risen by a collective 66% this year – the biggest spike since 2009.

The Philadelphia Stock Exchange Semiconductor Index reported that all but one of the stocks in its 30-member index rose in 2023. Numbers were good across the board, but Nvidia's stood out. Thanks to its central position in the white-hot artificial intelligence space, its shares more than tripled, making Nvidia the first chipmaker with a market capitalisation above $USD  trillion.

Behind Nvidia was Advanced Micro Devices, another beneficiary of the AI boom, whose stock has climbed more than 130%. At the other end of the table, Wolfspeed lost more than a third of its value this year. This came after production issues at a new plant resulted in below expectations forecasts for 2023.

It all added up to a 66% average share price hike across the year, the best since the 70% registered in 2009 following the credit crunch crash.
 


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June 13 2024 1:49 pm V22.4.55-1