T. Rowe Price Manager Posts 40% Returns as Semis Double in Year
AMD•T. Rowe Price’s Global Technology Fund, managed by Dom Rizzo, has averaged about 40% annual returns while the semiconductor sector doubled in value over the past year. Rizzo highlights Advanced Micro Devices and peers as core holdings poised for further growth based on accelerating AI demand and improving supply–demand dynamics.
1. Fund Performance
Dom Rizzo’s Global Technology Fund has delivered roughly 40% compound annual returns over the past three years, significantly outpacing both the Nasdaq 100 and traditional tech benchmarks. Strong stock selection within semiconductors, software and cloud infrastructure drove most of the outperformance.
2. Semiconductor Outlook
The semiconductor sector has seen a 100% rally over the past 12 months, with AI acceleration, data‐center expansion and constrained capacity underpinning gains. Rizzo identifies Advanced Micro Devices alongside NVIDIA and select fab equipment providers as best positioned to benefit from sustained AI compute demand and tightening supply–demand balances.
