2 Semiconductor Growth Stocks Powering the Metaverse
The semiconductor industry produces the advanced computer chips that power our most-prized consumer electronics. These components are becoming increasingly important as more goods and services harness digital capabilities, but they'll also play a critical role in futuristic technologies like the metaverse.
Some estimates suggest the new virtual world could be an $800 billion opportunity by the year 2024 with a compound annual growth rate of 13.1%. That means by the end of the current decade, companies could be capturing a slice of a $1.6 trillion market that didn't even exist until a few years ago.
Leading semiconductor companies Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) are already being relied upon by metaverse developers for their hardware needs. Here's why that business segment could be enormous in the future.
Source Fool.com
