4 Undervalued Chip Stocks to Buy in June

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President Joe Biden announced in April 2021 that he has bipartisan support for his proposed $50 billion funding to address the semiconductor shortage, which is a testament to the industry’s immense potential. Moreover, according to a Fortune Business Insights report, the global semiconductor market is expected to grow at an 8.6% CAGR between 2021 – 2028. Investors’ increased interest in the semiconductor industry is evidenced by SPDR S&P Semiconductor ETF’s (XSD) 65.9% returns over the past year versus the SPDR S&P 500 Trust ETF’s (SPY) 37.4% gains over this period.

Given this favorable backdrop, we think it is wise now to bet on chip stocks Intel Corporation (NASDAQ:INTC), Vishay Intertechnology, Inc. (NYSE:VSH) Tower Semiconductor Ltd. (NASDAQ:TSEM), and Alpha and Omega Semiconductor Limited (AOSL) because they are still trading at reasonable valuations and have immense growth potential.

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