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Pat Gelsinger, Chief Executive Officer of Intel Corporation (NASDAQ:INTC), estimated that chips would account for one-fifth of the cost of an automobile in 2030 as cars start to run on electricity increasingly, representing vast scope for the industry.
The global sales of semiconductors are expected to increase 8.8% in 2022. Considering this industry’s improving growth prospects, under-the-radar semiconductor stocks Onto Innovation Inc. (ONTO) and Tower Semiconductor Ltd. (TSEM) could be good additions to one’s watchlist.
