'Semiconductors' is a sector and it is probably appropriate to consider them as a commodity but no certainly not it's own asset class. The asset class you are looking for is 'commodities', old sport.
This is just the financialization of the American mind
Calls on the American mind, please
It's certainly a commodity right? (at least the RAM chips that get put on modules), and commodities are certainly an asset class?
Physical asset
It’s definitely not an asset. It’s near practically a consumable. It will degrade with use, and over time. It will not maintain it’s current value, let alone increase in value.
All physical assets degrade with use and only a very few increase in value in real terms.
Counterexample: guitars improve with use and age, not degrade.
Every part that the player or strings regularly touch will wear with use and eventually need to be replaced or repaired.
Strings are not the asset, they are a consumable. Many store guitars long term without strings to avoid unnecessary additional neck tension.