Exposure to electrification & Moore's Law as short-run commercial positives

Post Covid 19, governments have accelerated investments in support of the "green"economy. This is supportive of technology hardware and semiconductors through theelectrification and improved energy efficiency in many sectors. Moore's Law hashistorically supported a rise in the semiconductor content per device (cars, smartphones,servers, etc). From a purely commercial, short-run perspective this is a positive for thesector, as the addressable market for tech hardware companies is increased.

Exposure to Moore's Law, energy efficiency & employee safety as potentiallysignificant risks

Moore's law drives efficiency improvements and profits. It also results in rapidreplacement cycles hence increased resource use. This runs counter to concepts aimed atkeeping products in circulation (e.g. circular economy models). The sector is also energy(therefore carbon) intensive in its operations, in its products in use, and indirectlybecause hardware facilitates virtualisation / "cloud" usage. Also, maintaining the healthand safety of employees in a post Covid world has become a key area of focus for manyfirms under coverage, accounting for a significant portion of expenses.