There have been multiple false dawns in the chip sector, but it looks like investors are positioning themselves for a better 2014. ON Semiconductor (ONNN) is benefiting from that trend, as the shares are up about one-quarter from November and have beaten both the S&P 500 and Nasdaq since I wrote favorably on the shares in mid-August.
Multiple things should go right for the company in 2014, as weaker markets like computing should be close to stabilizing and the company leverages opportunities to go up-market in industrial, communications, and autos. ON Semiconductor's efforts to fix the problem-child that is SANYO should also start to pay off in a more meaningful way. Clearly there are a lot of "shoulds" there, but...
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