Small-cap semiconductor stocks The semiconductor industry has always been a cyclical industry with its fair share of ups and downs. When conditions are favorable, chipmakers have trouble keeping up with demand. This typically leads to over-investment in capital expenditure which will ultimately translate to supply exceeding demand and the resultant fall in chip prices and a scale-back in manufacturing and CAPEX. The cycle then repeats itself. In this article, I will give a quick description of the semiconductor industry and identify 5 small-cap semiconductor stocks that have significantly outperformed the market in 2021. What have been the critical factor or factors that drove their share price performance this year and can that outperformance continue into 2021? What are semiconductors and why are they so important? Semiconductors are substances with properties between that of a conductor (conducts electricity) and an insulator (does not conduct electricity)....