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Chips, But No Dip

Posted July 27, 2022

Ray Blanco

By Ray Blanco

Chips, But No Dip

Earlier today, The US Senate approved a massive bill in a push for scientific research and to bolster the US semiconductor industry. 

This latest piece of legislation is now making its way to the House, where Speaker Nancy Pelosi has already promised quick action. 

As things stand, all roads point to this bill being signed by president Joe Biden.

The CHIPS and Science Act aims to create a fund of $39 billion to encourage the construction and expansion of semiconductor manufacturing facilities. 

There’s another $11 billion program that’s setting out to improve semiconductor manufacturing research and workforce training. Lawmakers also added $24 billion in tax credits for investments in semiconductor manufacturing.

The bill is so large in scope that it’s hard to list everything it aims to do without writing a book here. 

Naturally, this is great news for semiconductor companies operating, or looking to operate, in the US… 

This means that companies like Intel Corp. (NASDAQ: INTC), Micron Technology Inc. (NASDAQ: MU), Applied Materials Inc. (NASDAQ: AMAT), and more all have the potential to tap into that funding for US expansions. 

In fact, we’re already seeing semis break into rally mode… the VanEck Semiconductor ETF (NASDAQ: SMH) is up over 4% on the news. 

Individual semi companies are rallying too, as you can see in the image below:

semiconductor stocks

And while this rally can certainly be attributed to the recent news, I do think things are turning quite bullish for the semiconductor sector. 

One thing’s for sure, the future for semiconductors in the US is looking bright! 

To a bright future,

Ray Blanco

Ray Blanco
Chief Technology Expert, Technology Profits Daily
AskRay@StPaulResearch.com

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