Walk into a car dealership these days and you’ll notice something: There are few vehicles to choose from. That’s because a global chip shortage is having a huge effect on manufacturing – and creating a boon for semiconductor stocks. 

And it’s not just cars. Everything from your refrigerator to smartphone is reliant on chips these days. The COVID-19-related shortage really puts that fact into perspective, and helps drive home the idea that chip stocks belong in your portfolio.

The reality is, our modern world runs on chips, and they form the backbone of the global economy. Every tech trend – cloud computing, e-commerce, self-driving cars, etc. – use a hefty dose of semiconductors to make it happen.

Demand for all things chip is growing by leaps and bounds. According to tech researcher Gartner, worldwide semiconductor revenues grew 10.4% last year to $466.2 billion. That’s during the pandemic and a period