Consider Nvidia. If you had invested $3,000 in Nvidia stock 10 years ago, that total would have grown to $147,000 today. Undoubtedly, there are stocks today that could go on to duplicate -- or even beat -- Nvidia's return given enough time.
A lot of hope is being placed in Intel's (NASDAQ: INTC) Foundry Services business and for good reason. It's not just a pillar of chipzilla's plan to recapture semiconductor industry dominance, it's also an important endeavor as countries around the globe try to localize chip manufacturing. Numerous other chip companies like Nvidia (NASDAQ: NVDA), Advanced Micro Devices (NASDAQ: AMD), and memory chipmaker Micron Technology (NASDAQ: MU) have stated that some end markets for semiconductors (consumer electronics like PCs and smartphones in particular) are in decline after a couple of years of record spending during the pandemic.
The market already called this current chip industry slowdown, and it might now be calling a bottom.