Micron and NVIDIA: Can chipmakers MU and NVDA recover ground in 2023?

Since 2020 the chips have truly been down, with supply chain issues causing an ongoing global semiconductor shortage. This has sent reverberations across many sectors, such as the technology and auto industries.

US producer of computer and memory storage, Micron Technology $Micron Technology(MU.US)$ has seen its stock price plummet this year by 44% and in November MU announced it would slash production of memory chips in 2023, due to weak demand. The picture is similar for NVIDIA $NVIDIA(NVDA.US)$ , which makes chips for computer servers and automobiles and saw its share price drop by 44%, causing analysts to be less than optimistic.