What Is One of the Best Semiconductor Stocks to Own for the Next Decade?

Group 1 - ON Semiconductor is a specialty chipmaker providing power and sensing solutions primarily to the automotive (55% of 2024 revenue), industrial (25%), and other sectors (20%) [2] - The company's product portfolio includes power semiconductors, intelligent sensors, and analog and mixed-signal integrated circuits, with significant exposure to silicon carbide (SiC) chips for electric vehicles (EVs) [2] - The company also has partnerships, such as with Nvidia, focusing on the next generation of data centers [3] Group 2 - Despite long-term growth opportunities, ON Semiconductor faces near-term risks due to a slowdown in EV investment and industrial demand, impacting sales since the end of 2023 [4] - The automotive industry is expected to see significant long-term growth in EVs, with major investments from companies like Ford [6] - ON Semiconductor's stock is trading at slightly over 14 times the Wall Street analyst consensus for free cash flow in 2025, indicating a margin of safety in its valuation [6]