Home Latest Articles Summary Semiconductors, as represented by SMH, have outperformed the S&P 500 by more than 4x over the past five years and remain essential for diversified portfolios. AI-driven data center buildouts and hyperscaler capex are accelerating the semiconductor upcycle, with Broadcom and AMD reporting robust, forward-looking growth. Major risks include power supply constraints, inflation shocks, and potential poor AI IPOs, but the biggest risk is under-allocation to semiconductors. I recommend core holdings in Nvidia, Broadcom, Google, and diversified ETFs like SMH and FSELX to capitalize on the ongoing AI boom. afterday/iStock via Getty Images For many years now, I've watched analysts on Bloomberg, CNBC, and even on Seeking Alpha caution investors about how semiconductors are "cyclical," the boom cycle is nearly over, and the bust is near upon us.…