2 Canadian semiconductor stocks to explore in 2022

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2 Canadian semiconductor stocks to explore in 2022

2 Canadian semiconductor stocks to explore in 2022
Image source: ©2022 Kalkine Media® 

Highlights

  • The semiconductor industry has witnessed continuous growth despite coronavirus-led macroeconomic pullbacks.
  • The semiconductor industry might see a surge in demand as these advanced technologies are becoming indispensable in our lives.
  • Emerging tech like virtual reality (VR) and augmented reality (AR) can bolster the demand for semiconductors.

The semiconductor industry continues to grow despite coronavirus-led macroeconomic pullbacks. Semiconductors are key elements behind popular tech like artificial intelligence (AI), the Internet of things (IoT) and communication tools, electronics, the automotive industry, etc. The semiconductor industry might see a surge in demand as these advanced technologies are becoming indispensable in our lives.

On that note, let us explore two Canadian semiconductor stocks.

1.    Celestica Inc (TSX:CLS)

Celestica is a Toronto-based electronic manufacturing service (EMS) firm that provides fully integrated solutions from product development to production to after-market services. Celestica generated revenue of US$ 1.5 billion in the fourth quarter of fiscal 2021, denoting a year-over-year (YoY) jump of nine per cent.

The hardware technology firm expects its 2022 revenue to jump to at least US$ 6.3 billion.

Also read: Why is Exela Technologies’ stock surging? NASDAQ:XELA jumps 16%

Stocks of Celestica closed at C$ 13.90 apiece on Wednesday, January 26, a fall of about nine per cent from its 52-week high of C$ 15.28 on January 5. The tech stock delivered a nine-month return of nearly 33 per cent.

Celestica Inc (TSX:CLS) stocks performance

 Image source: ©2022 Kalkine Media® 

2.    POET Technologies Inc (TSXV:PTK)

POET Technologies is also a Toronto-headquartered semiconductor company. The technology company posted a net loss of US$ 3.5 million (C$ 4.4 million) in the third quarter of fiscal 2021 due to the global supply chain challenges.

Stocks of POET Technologies closed at C$ 0.75 apiece on Wednesday. The semiconductor stock plunged by nearly 25 per cent in the last one year.

Bottom line

Emerging techs like virtual reality (VR) and augmented reality (AR) can bolster demand for semiconductors, which can positively influence semiconductor stocks. However, the companies' financial and operational results are crucial information to bear in mind before investing in them.

Also read: Petrus (PRQ) & GoldQuest (GQC): 2 Canadian penny stocks to buy

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