This 1 Semiconductor Stock Could Be the Best Technology Buy You've Never Heard Of
The semiconductor industry is in the midst of a severe downturn. As a result, stocks of technology's basic building blocks are down significantly. Since the start of 2022, semiconductor stocks are down 23%, as measured by the iShares Semiconductor ETF (NASDAQ: SOXX).
But not Microchip Technology (NASDAQ: MCHP). When adding in dividends, this top industrial chipmaker has dramatically outperformed its peers and is sporting just a 3% total return decline since the start of 2022. Though you may have never heard of it, this could be one of the best tech stocks to buy right now for the long term.
Microchip isn't just on a hot streak. It's also predicting continued outperformance of its peers during a downturn in the semiconductor market (driven by a severe decline in PC and smartphone sales, as well as weakness in the data center market due to oversupply of some components).
Source Fool.com
