After sliding on Tuesday, shares of semiconductor stocks Advanced Micro Devices (NASDAQ: AMD), Broadcom (NASDAQ: AVGO), and Taiwan Semiconductor Manufacturing Company (NYSE: TSM) are all inching higher again on Wednesday morning, rising 2.8%, 2.8%, and 5.1%, respectively, through 11:05 a.m. ET.

Two key factors appear to be driving today's outperformance: generalized, global trends in semiconductor demand and... the U.S. government.

First things first. On Monday, the Semiconductor Industry Association (SIA) trade group reported that global semiconductor sales in January 2024 declined slightly in comparison to December 2023 (down 2.1%), but increased dramatically in comparison to the year-ago period. January 2024 sales totaled $47.6 billion, up 15.2% year over year from January 2023 -- the largest year-over-year increase in monthly sales seen since May 2022, the association noted.

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Source Fool.com