Investing.com -- Citi is urging investors to buy three semiconductor stocks after a sharp sector selloff, arguing that the supportive broader industry backdrop remains largely intact. The Philadelphia Semiconductor Index (SOX) is up nearly 60% year-to-date versus the S&P 500's 9% gain, but has fallen 21% quarter-to-date while the S&P 500 has been roughly flat, as chip stocks "ran into high investor expectations," Citi analysts said. As a result, the analysts said they prefer "semi caps to semis on higher estimate revisions driven by capex hikes." In analog semis, Citi pointed to a broad-based recovery, with industrial demand growing roughly 30-35% year-over-year, automotive up 12-15%, and personal electronics up 6-8%. Companies have raised prices to offset input cost inflation, and lead times are extending — some products now exceed 16 weeks — while customer escalations have doubled.