The semiconductor industry is fuelled by the rising adoption of AI and machine learning in high-computing applications across multiple industries. Given the industry’s steady growth prospects, investors could consider quality semiconductor stocks Applied Materials, Inc. (AMAT), Microchip Technology Incorporated (MCHP), and Everspin Technologies, Inc. (MRAM) for October.
The global semiconductor market is expected to grow at a 13.1% CAGR until 2032. This expansion can be ascribed to the rising demand for semiconductors in a number of sectors, including telecommunications, consumer electronics, and automobiles.
