2019 was a turbulent year for the semiconductor industry, to say the least. Trade issues between the US and China, slowing demand for smart devices, and tumbling memory chip prices all played their part. However, the industry has continued to exhibit strong growth. The PHLX Semiconductor Sector Index’s (SOX) 60% gain easily beats the S&P 500’s impressive 29% increase this year.
As the 2020s kick into gear, the industry stands to benefit from several tailwinds: the wider deployment of 5G networks, the increasing amount of Internet of Things (IoT) devices, the growth of artificial intelligence (AI), data centers and storages - all of which count on the semiconductor industry.
Against this backdrop, investment firm Rosenblatt Securities recently issued a report with the firm's three semiconductor picks for 2020. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other and got the lowdown on what the new decade has in store for the firm’s choices. Let’s take a look.
