Worldwide semiconductor sales have stabilized in the last few months, at a sales pace near the all-time peak for the industry.
This is dollar value; the actual volume and computing power is hugely greater. However, this does not necessarily mean that the chip stocks are great buys. Intel has disappointed investors over the last year. Link to stock price chart.
Reasons for the strength over the last year: business tech spending has been rising, consumer tech spending has also been rising. Although consumer PC sales have grown, don’t forget other uses. When our trusty old toaster oven died last year, we replaced it with one that has an chip which turns the thing on and off. (Disadvantage: no "click" when my bagel is done.)
Business Strategy Implications: tech sector continues to be strong; consumer sector will grow at slower rate, business buying will accelerate, so the overall picture looks good for this industry.