Semiconductor stocks are looking up after a rough 2022. The iShares Semiconductor ETF is up 11% this year, in stark contrast to the index's 35.8% decline in 2022. The once-booming sector faced a downturn last year, in light of dwindling demand for consumer products such as smartphones and personal computers; supply chain disruptions; and a broad risk-off sentiment in the stock market.
Masters said a driver-assisted traditional vehicle has about $150 worth of electronic content, while a "Level 5" autonomous vehicle has about $1,600 worth of electronic content. "It's their content story that provides a degree of disconnect with the broader auto cycle and provides a degree of resilience in terms of the earnings. In terms of their execution so far, it has been flawless," he said.
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