The best time to invest is during an economic downturn. When prices are depressed, and the masses are fearful, those with spare cash and an iron gut can take advantage and buy.

That's an approximation of what Micron Technology (NASDAQ: MU) is saying it wants to do. The chip industry is in the early stages of a cyclical downturn right now, and Micron itself announced a big hit to its revenue and profits is upcoming. But thanks to some help from the recently passed CHIPS Act, Micron will be expanding its U.S. manufacturing. It already broke ground on an expansion of its Boise, Idaho, facility. Its second site? New York state, where Micron plans on spending up to $100 billion over the next two decades on a new megafab.

It's huge news for Micron, New York, and the whole semiconductor industry, which is still grappling with fallout from the pandemic and a shaky supply chain that is highly reliant on overseas fabs. But the biggest winner from this up to $100 billion announcement could be the companies that make fab equipment. Here are three stocks that will benefit.

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Source Fool.com