Bullish On The Semiconductor Sector Ahead Of Advanced Micro Devices Earnings? This ETF Offers 3X Leverage
Portfolio Pulse from Melanie Schaffer
Ahead of Advanced Micro Devices' (AMD) quarterly earnings release, the Direxion Daily Semiconductor Bull 3X Shares (SOXL) ETF, which offers 3X leverage, was trading slightly higher. The semiconductor sector has been bullish, with NVIDIA Corporation (NVDA) reaching new all-time highs. SOXL, a triple-leveraged fund, includes stocks from the semiconductor sector, with AMD and NVDA making up 7.23% and 8.4% of the fund respectively. The ETF is attempting to break through resistance just under the $29 mark.
July 31, 2023 | 4:47 pm
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NEGATIVE IMPACT
The Direxion Daily Semiconductor Bear 3X Shares (SOXS) ETF could be influenced by bearish movements in the semiconductor sector.
The SOXS ETF is designed to track the semiconductor sector. Therefore, bearish movements in this sector could influence the ETF's performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
AMD's upcoming earnings release could impact its stock price and the performance of the SOXL ETF, where it makes up 7.23% of the fund.
AMD's earnings release is a significant event that could influence its stock price. As AMD makes up a portion of the SOXL ETF, this could also impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
NVDA's recent all-time highs could influence its stock price and the performance of the SOXL ETF, where it makes up 8.4% of the fund.
NVDA's recent all-time highs could influence its stock price. As NVDA makes up a portion of the SOXL ETF, this could also impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The performance of the SOXL ETF could be influenced by the earnings release of AMD and the recent all-time highs of NVDA, which make up portions of the fund.
The SOXL ETF includes stocks from AMD and NVDA. Therefore, the earnings release of AMD and the recent all-time highs of NVDA could influence the ETF's performance.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100