Connected Car
Given this assumption, NXP Semiconductors (NXPI -2.66%) is a top stock to watch right now. The chip shortage is mostly over, except in the auto industry where semiconductor manufacturers remain mostly booked out for the rest of 2023. The real issue with immediate-term guidance is coming from the smartphone portion of NXP's sales. Mobile chip sales are expected to be down in the mid-40% range year over year to start the new year. Whichever horse you choose in this race, NXP's outlook for 2023 indicates demand for automotive technology is strong.