Kevin Landis from Firsthand Capital Management is betting on three chip stocks that can ride on the electric vehicle wave — even if there's an economic downturn. "The top investments we have — you can argue that they are a little bit less interest rate sensitive," the chief investment officer and portfolio manager told CNBC's " Street Signs Asia " on Wednesday, alluding to the fact that the Federal Reserve is poised to raise interest rates soon . "But at its core, these are such great stories that even if inflation claws back a lot of your growth, and even if we go into a recession, they're still going to grow," the fund manager said. "It's semiconductors, specifically targeted towards EVs." Firsthand Capital had $400 million of assets under management as of Dec. 31. One of the firm's top picks is Wolfspeed , which makes semiconductors and power modules used in electric vehicles, Landis said. Shares of the silicon carbide technology maker rose 5.5% in 2021. Two other names investors can consider buying are semiconductor components maker ON Semiconductor Corporation , which rose nearly 108% last year, and Switzerland-headquartered chipmaker STMicroelectronics , which was up 31.7% in 2021, according to Landis. "Those are some of the best bets," he said. Some analysts predict that worldwide uptake in electric vehicles could rise sharply over the next few years — Daniel Ives from Wedbush Securities recently said he expects global EV adoption will grow to 30% by 2030, up from just 5% this year. Inflation is set to be a major concern for Wall Street investors this year, according to a CNBC survey , and many expect stocks to see muted returns. Last year, a variety of data points in the U.S. indicated rising price pressures . The consumer price index, which measures the cost of a wide-ranging basket of goods and services, rose 6.8% year-on-year in November , the fastest rate since June 1982. The U.S. Federal Reserve has indicated it will make aggressive policy moves in response to rising inflation — including an accelerated reduction of its monthly bond purchases . Fed officials see as many as three rate hikes coming in 2022 alone. "Nobody wins with inflation. It's really terrible for everybody and there's not a great way to protect yourself out there," Landis told CNBC.
Kevin Landis from Firsthand Capital Management is betting on three chip stocks that can ride on the electric vehicle wave — even if there's an economic downturn.