Double trillion. Is it still worth investing in chipmakers?

This week, two trillion dollar companies appeared in the semiconductor industry: SK Hynix and Micron, and the PHLX Semiconductor Index increased its growth in the first 100 trading days of 2026 to 82%. But such growth has an important nuance. All of the huge influx of money facing the industry during this new tech rush is coming from a handful of companies and technologies tied to AI infrastructure. The rest of the market—automotive chips, analog electronics, consumer semiconductors—is growing slowly or stagnating, weighed down by rising memory prices and weak demand. We tell you which market segments and companies now look overvalued, and where else you can find interesting opportunities.

What you will learn about in this article:

• Why Record Industry Revenue Doesn't Mean Uniform Sector Growth
• Which companies look overbought and why?
• Where potential for revaluation remains
• What factors will determine the dynamics of the sector over a 12-24 month horizon?