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3 Cheap Semiconductor Stocks to Buy on Market Dips By StockNews

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© Reuters. 3 Cheap Semiconductor Stocks to Buy on Market Dips

Semiconductor production is one of today’s most vital industries with the vast adoption of digital technologies across sectors. Because a current semiconductor shortage is expected to be addressed gradually with large-scale investments to boost production, we think fundamentally strong semiconductor stocks STMicroelectronics (STM), Amkor (NASDAQ:), and ChipMOS (IMOS) could be worth buying on market dips to cash in on the industry’s solid growth prospects. These stocks could see significant gains at current levels, and they are currently undervalued. Continue reading. The global shortage of semiconductors has caused production problems in many industries, including the electronics industry and the electric vehicle (EV). The popularity of digital transformation and remote working has led to a significant demand worldwide for semiconductors.

Biden Administration proposes a $52Billion investment to increase semiconductor production. Other governments around the world are making large investments to meet growing demand. International Data Corp.’s recent research shows the worldwide semiconductor market could grow by 17.3% in 2021, according to IDC.

Given this backdrop, we think the quality semiconductor stocks STMicroelectronics N.V. (STM), Amkor Technology , Inc. (AMKR), and ChipMOS TECHNOLOGIES INC. (IMOS) could be solid bets on every market dip. Given their potential growth, these stocks are currently undervalued.

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