After a years-long bull market in growth stocks, the beleaguered value strategy has outperformed this year, as rising interest rates apply pressure on equities.
Semiconductor stocks have been great outperformers over long periods, but their movement this year underscores how cyclical the industry can be.
Here is a look behind the numbers that are driving down shares of chip makers, followed by a summary of the group's excellent long-term record and a look at what may lie ahead.
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