Chipmakers are taking a beating, but investment bank CLSA sees one with 37% upside

How the global computer chip shortage happened

Shares of global chipmakers have taken a beating in recent days, amid a sudden spike in bond yields that saw the 10-year Treasury yield top 1.6% last week.

Technology stocks could be hit hard as investors worry that stocks are too expensive and inflation could rise.

But investment bank CLSA is still bullish on one Asian chipmaker — even though it's already risen at least 13% this year, and it surged more than 80% in the last 12 months.

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