Chip industry had worst sales year since dot-com bubble burst
Agreed, this news doesn&#x27;t square with market performance. For instance, FSELX (Fidelity Select Semiconductors portfolio) mutual fund is up 43% over one year, doubling the performance of the S&amp;P500. Top-10 holdings (68%) include Intel, Qualcomm, Broadcom, Nvidia, Micron, Marvell, ON, NXP, FLex, Commscope, so it&#x27;s a fairly broad measure. For this cross-section to be performing so strongly, others must be circling the drain if indeed the industry is turning down steeply. I&#x27;m not seeing that.