Semiconductor manufacturers are going through a strategic shift due to a recent decline in share prices. This decline is attributed to profit-taking and geopolitical tensions.

However, analysts are optimistic about the industry's recovery and predict significant revenue and profit growth in 2024. This growth will be driven by artificial intelligence and stabilizing sales in personal computers and smartphones.

The semiconductor sector is now seen as an attractive investment opportunity, with a forward price-to-earnings ratio of 18.5x. A tactical theme has been launched, focusing on the MSCI AC World Semiconductors & Semiconductor Equipment Index. It is expected that this industry will outperform the broader MSCI AC World Growth benchmark by mid-single digits over the next 3 to 6 months. Investors are advised to consider specific semiconductor stocks for potential gains.