COMPUTING

I’ve been writing for over a decade about a semiconductor renaissance taking place. That development is building now every day, with hundreds of companies such as Google having become chip designers. This week I rebalanced the TL20 group of stocks to consider, which is up 320% in three and a half years. One of the new additions is Celestica, the principal maker of the TPU under contract with Google. Celestica is in that bunch of contract electronics manufacturers (EMS) that do an amazing job of getting by with thin margins and still generating real cash profits. In a little over 3.5 years, the TL20 is up 315% even in this tumultuous market. The TL20 rebalancing: The biggest thing since the microprocessor Whatever you think about speculative excess in AI, the fact is that we are at an historic moment in the history of computer chips, a semiconductor renaissance that has been gathering steam for years. That very profound change is sending ripples through the tech market. Nvidia is a big part of the story. Here are other ways an investor can capture the seismic shift. thetechnologyletter.com $CLS

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