What is the best chip stock to buy now?

Following closely behind is Broadcom Inc (AVGO), with a year-to-date performance of 101.63%. Broadcom, a leading designer and manufacturer of semiconductor devices, has benefited from strong demand across various end-markets.

Taiwan Semiconductor Manufacturing Company (TSM), the world's largest contract chipmaker, has also performed exceptionally well, with its ADR shares up 98.01% over the past year. TSM's success can be attributed to its dominant position in the foundry market and its ability to secure long-term contracts with major tech companies.

Monolithic Power Systems Inc (MPWR) is another semiconductor stock that has delivered strong returns, with its share price up 93.03% over the past year. MPWR specializes in the design and manufacture of high-performance analog and mixed-signal integrated circuits for various applications.

In addition to these standout performers, other semiconductor stocks have also shown promising growth. The semiconductor industry as a whole has been buoyed by increasing demand for electronic devices, driven by factors such as the rise of 5G, the Internet of Things (IoT), and artificial intelligence (AI).

Semiconductor stocks have been a standout performer in the past year, with several companies delivering impressive gains. Among the top performers is Nvidia Corp (NVDA), which has seen its share price surge by an astonishing 168.97% over the past 12 months.