Forbes October 2023 Best Stocks

Forbes has officially published its 9 best semiconductor stocks for this month.

In the ever-evolving world of investments, it’s essential to explore opportunities that can potentially skyrocket your portfolio. One such avenue that has been catching the eye of seasoned investors is the semiconductor sector. In the past year, the VanEck Semiconductor ETF (SMH) has truly stood out as a star performer, outshining the SPDR S&P 500 ETF (SPY) by an impressive margin of nearly 20%. But what’s driving this surge in the semiconductor industry? It’s the insatiable demand for semiconductors, primarily stemming from the rapid growth of artificial intelligence.

The intersection of technology and finance can be a perplexing maze for the uninitiated. That’s where Forbes Advisor comes in, with its expert guidance and market insights. To assist you in navigating this complex terrain and aligning your investment strategy with the right assets, Forbes Advisor has meticulously curated a list of nine exceptional semiconductor stocks currently making waves in the market. These stocks have demonstrated remarkable growth and garnered the approval of financial analysts, who predict that they will continue to yield impressive earnings in the years to come.

Here’s a glimpse of some standout stocks and their impressive percentage gains: ASML Holdings N.V. (ASML) leads the pack with a remarkable 22.7% gain, closely followed by Monolithic Power Systems, Inc. (MPWR) at 25.0%. Taiwan Semiconductor Manufacturing Company Ltd. (TSM) secures a solid 6.0% increase, while Nvidia Corporation (NVDA) takes the spotlight with an astonishing 78.7% gain. Axcelis Technologies, Inc. (ACLS) and AEHR Test Systems (AEHR) both show impressive 20.0% gains, while Skyworks Solutions, Inc. (SWKS) isn’t far behind with a 15.0% increase. Microchip Technology Incorporated (MCHP) records a commendable 12.1% gain, and Applied Materials, Inc. completes the list, promising further investment potential. These figures illustrate the dynamic and rewarding nature of the stock market, offering investors numerous avenues for potential growth and profit.