Following a strong showing in 2021, semiconductor companies remain on track for upside yet again in 2022 amid solid demand and lean channel inventories, according to an Oppenheimer analyst. Growth Stocks To Continue to Outperform Growth stocks led in 2021, and this trend is likely to continue through the cycle, analyst Rick Schafer said. Data Center/Cloud, 5G and auto are the verticals that are poised for outsized multiyear structural growth, the analyst added. Supply constraints, though curbing upside near term, should materially improve in the second half, the analyst said. Following $145 billion in semiconductor capital expenditures in 2021, fab capacity, excluding memory, will likely increase by 9 percent in 2022, with the growth weighted toward the second-half, Schafer said. Data Center and Cloud spend will likely be strong as hyperscalers roll out new AI workloads, the analyst said. The analyst expects 5G Random Access Networks to accelerate, led by …