Sector · 3 names
Foundry & memory
The factories that make AI chips and the memory stacked beside them.
What matters here
Capacity is the bottleneck: TSMC's advanced packaging and high-bandwidth memory (HBM) have both sold out in turn. Memory is the most cyclical business on the screen; today's record margins come from shortage pricing, and they fall when supply catches up.
Every name in the sector, total return
Total return in USD, on a log scale · grey is semiconductors (SMH)
