This AllianzGI report, authored by Jeremy Gleeson and Virginie Maisonneuve, examines the evolving role of the semiconductor industry in the global economy amid geopolitical and technological shifts.
• Strategic Importance: Semiconductors are critical for AI, industrial automation, and IoT, making them a focal point of geopolitical tensions and government policies like the U.S. and European Chips Acts.
• Market Dynamics: Increased government subsidies and export restrictions are driving supply expansion, though pricing remains volatile due to cyclical demand.
• Investment Insights: While semiconductors share some traits with utilities, their cyclical nature and market segmentation maintain distinct investment considerations.
For a detailed exploration of these trends and their implications, access the full report.
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