Major themes like generative artificial intelligence have massively disrupted traditional industries and produced many notable winners in the equity markets in the past few years. Many semiconductor companies are well-positioned to benefit from this trend in the long run, as AI can boost the demand for their products. They may also be able to benefit from growth trends in other industries like electric vehicles.
It appears that many of these growth trends are just getting warmed up, and 2024 could be a solid time to enter since some equities have pulled back on weaker growth in the semiconductor market in 2023. 2024 looks like a solid time to initiate positions in semiconductor stocks, which may be poised for a new bull run in the coming years.
