Chip Stocks On The Rise: Nvidia, Micron, Qualcomm Propel SMH And SOXX ETFs To New 52-Week Highs
Portfolio Pulse from Surbhi Jain
The semiconductor industry is experiencing a surge, with key players like Nvidia, Micron, and Qualcomm driving semiconductor-tracking ETFs such as SMH and SOXX to new 52-week highs. Factors like robust demand, supply chain improvements, and technological advancements are fueling this rally.
May 29, 2024 | 3:08 pm
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Micron's stock is up over 55% year-to-date, contributing to the rise of semiconductor ETFs like SMH and SOXX.
Micron's strong performance is a significant factor in the overall rise of semiconductor ETFs, reflecting the robust demand and technological advancements in the sector.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Nvidia's stock is up over 125% year-to-date, significantly contributing to the rise of semiconductor ETFs like SMH and SOXX.
Nvidia's strong performance has a direct impact on the semiconductor sector and ETFs tracking this industry, making it a key driver of the recent surge.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Qualcomm's stock has returned over 45% to investors year-to-date, contributing to the rise of semiconductor ETFs like SMH and SOXX.
Qualcomm's performance is a key contributor to the rise of semiconductor ETFs, highlighting the strength of the semiconductor sector.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
The VanEck Semiconductor ETF (SMH) is up over 65% year-to-date, driven by strong performances from Nvidia, Micron, and Qualcomm.
SMH's significant year-to-date rise is largely due to the strong performances of its key holdings, Nvidia, Micron, and Qualcomm.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 95
POSITIVE IMPACT
The iShares Semiconductor ETF (SOXX) is up over 24% year-to-date, driven by strong performances from Nvidia, Micron, and Qualcomm.
SOXX's year-to-date rise is significantly influenced by the strong performances of its key holdings, Nvidia, Micron, and Qualcomm.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 90