As the U.S. government debates spending billions of taxpayer dollars to support domestic semiconductor chip production and research, public support appears strong for such efforts. That news is positive for semiconductor stocks.
The latest IBD/TIPP poll found that 66% of U.S. adults think semiconductor manufacturing is important for national security.
Breaking down the survey data, 45% of respondents think having a strong semiconductor manufacturing base is “very important” to U.S. national security. And 21% of respondents think it is “somewhat important.”
Of the rest, 23% of respondents said they were not sure and 11% didn’t consider semiconductor manufacturing important to U.S. national security.
U.S. Wants To Regain Leadership Position
For the latest IBD/TIPP poll, TechnoMetrica Market Intelligence surveyed 1,424 adults online from June 30 to July 2.
Semiconductor stocks have been rising lately amid heightened demand and short supply of computer chips.
Meanwhile, politicians on Capitol Hill are focused on legislation designed to return the U.S. to a leadership position in semiconductor manufacturing. Taiwan Semiconductor Manufacturing (TSM) and South Korea-based Samsung are the leaders today in advanced chip manufacturing.
Semiconductor Stocks Nearing Buy Points
Fabless chipmaker Advanced Micro Devices (AMD) is approaching a 99.33 buy point from a cup base. AMD stock rose 0.2%, near 94.90, on Tuesday.
Semiconductor equipment manufacturers have been among the best-performing semiconductor stocks of late. That’s because chipmakers are buying new gear to increase their production capacity.
Chip gear maker Applied Materials (AMAT) is near a 146.10 buy point from a 13-week consolidation period. On Tuesday, it slid 1%, near 136.80.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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