While the S&P 500 is up 14 percent in the last year and the Nasdaq 100 is up 21 percent, it's the Semiconductor industry that has been the outperformer, returning 33 percent in the same time period. If one charts all semiconductor companies in North America above $500 million in market cap, with two-year revenue growth on the x-axis and two-year cash from operations growth on the y-axis, they can see exactly which firms are growing.