SOXX

U.S. chip stocks led by Nvidia Corp (NASDAQ:NVDA), Advanced Micro Devices, Inc (NASDAQ:AMD), Taiwan Semiconductor Manufacturing Co (NYSE:TSM), Broadcom Inc (NASDAQ:AVGO), Qualcomm Inc (NASDAQ:QCOM), Arm Holdings Plc (NASDAQ:ARM), Intel Corp (NASDAQ:INTC), Micron Technology, Inc (NASDAQ:MU) are trading lower on Wednesday. Tesla Inc (NASDAQ:TSLA) and Google parent Alphabet Inc’s (NASDAQ:GOOG) (NASDAQ:GOOGL) second-quarter earnings on Tuesday failed to impress the Street and are dragging the stocks lower. Tesla, a key Nvidia customer, reported second-quarter revenue growth of 2% year-on-year to $25.5 billion, beating the consensus estimate of $24.7 billion. EPS of $0.52 lagged the consens

Wall Street experienced a turbulent session on Wednesday, with the S&P 500 index heading toward its worst performance in over a year and the tech-focused Nasdaq 100 eyeing its fifth decline in the last six sessions. The Magnificent Seven group — Microsoft Corp. (NYSE:MSFT), Apple Inc. (NASDAQ:AAPL), NVIDIA Corp., Alphabet Inc., Amazon Inc. (NASDAQ:AMZN), Meta Platforms Inc. (NASDAQ:META) and Tesla, Inc. — wiped out over $570 billion in their combined market valuation by midday trading in New York. The Roundhill Magnificent Seven ETF (NYSE:MAGS) fell 4.9%, marking the worst daily performance since the fund’s inception last year. Tesla shares plummeted over 11% after missing earnings exp

Wall Street started the new week on a positive note, with all major indices in the green. A rebound in tech stocks following last week’s dips bolstered overall investor sentiment. Investors focused on the start of the tech earnings season, looking past President Joe Biden‘s withdrawal from the reelection campaign. Semiconductor stocks, which plunged last week due to threats of increased curbs on China, rallied on Monday. The VanEck Semiconductor ETF (NYSE:SMH) and the iShares Semiconductor ETF (NYSE:SOXX) both rose by 2.5%. The tech-heavy Nasdaq 100 index surged 1% by 12:40 p.m. in New York, poised to snap a three-day losing streak. The S&P 500 edged up 0.7%, while blue-chip stocks in

It’s another risk-off day on Wall Street, with all major U.S. indices trading in the red. The CBOE Volatility Index (VIX), often referred to as the market’s fear gauge, spiked over 10%, reaching levels last seen in late April. Both the S&P 500 and the Nasdaq 100 indices declined by 0.6%, while the Dow Jones Industrial Average fell 0.7%, potentially ending a streak of six consecutive positive sessions. Small-cap stocks also succumbed to the broader negative sentiment, with the Russell 2000 index dropping 0.7%. Chicago Fed President Austan Goolsbee, a known “dove” on the board, expressed optimism about progress on inflation and the U.S. economy’s resilience in avoiding a recession. He

Semiconductor stocks, tracked by the IShares Semiconductor ETF (NASDAQ:SOXX), have taken a beating this week. BofA believes the heavy selling pressure on semis sets the sector up for outperformance into the end of the year. What To Know: BofA Securities senior analyst Vivek Arya reminded investors to focus on fundamentals when doubt arises in a new note released late Wednesday. Chip stocks got punished on Wednesday as investors rotated out of the red-hot sector following comments from President Joe Biden and former President Donald Trump. Biden recently suggested that he’s considering putting tougher trade restrictions on semiconductor equipment and Trump said this week that the U.S

The semiconductor market was jolted on Wednesday as stocks of major players like NVIDIA Corp. (NASDAQ:NVDA), Advanced Micro Devices, Inc. (NASDAQ:AMD), and Broadcom Inc. (NASDAQ:AVGO) took a sharp downturn. This came in the wake of reports suggesting that President Joe Biden is contemplating stricter trade restrictions with China and comments made by former President Donald Trump regarding Taiwan. What Happened: During an interview with CNBC’s Closing Bell Overtime, Bernstein analyst Stacy Rasgon shared his insights on the situation. Rasgon pointed out that Trump’s comments on Taiwan seemed to suggest that he was not overly concerned about protecting Taiwan, possibly indicating that he ex

It’s deep red on Wall Street on Wednesday, with tech stocks sharply falling amid a semiconductor broad-based selloff following news that the Biden administration is hastening export restrictions to China. Bloomberg reported on Wednesday that the U.S. administration has advised its allies to impose the strictest trade restrictions possible if companies such as Tokyo Electron Ltd. (OTCPK: TOELY) and ASML Holding NV (NASDAQ:ASML) persist in supplying advanced chips to China. Shares of the Dutch chipmaker ASML Holding fell nearly 12%, notching the worst decline since March 2020. The tech-heavy Nasdaq 100 tumbled by 2.7% at 12:45 p.m. ET, marking the worst session since late August 2023.

The semiconductor sector is enduring one of its worst trading days in years, driven by investor concerns over the Biden administration’s potential tightening of regulatory restrictions on chip exports to China. The iShares Semiconductor ETF (NYSE:SOXX) plummeted 5.4% by 12:20 p.m. ET, eyeing the worst session since October 2022. Similarly, the VanEck Semiconductor ETF (NYSE:SMH) sunk 5.5%. Chart: Chipmakers Suffer Worst Day Since October 2022 Image: Benzinga Pro The Biden administration is considering enacting the harshest trade restrictions if chipmakers continue to grant China access to advanced semiconductor technology, Bloomberg News reported Wednesday. Dutch chipmak

Advanced Micro Devices, Inc (NASDAQ:AMD) announced its plan to acquire Finnish AI start-up Silo AI for $665 million, marking one of the largest AI takeovers in Europe. This acquisition aims to bolster AMD’s AI services to compete with market leader Nvidia Corp (NASDAQ:NVDA). The acquisition of Silo AI, expected to close in the second half of this year pending regulatory approval, will bring Silo’s 300-member team into AMD’s fold to build custom large language models (LLMs), the Financial Times reports. Vamsi Boppana, senior vice president of AMD’s AI group, emphasized that the deal will accelerate customer engagements and AMD’s AI tech stack. Silo AI, one of Europe’s largest priv

Nvidia Corp (NASDAQ:NVDA) has been a standout performer among semiconductor companies and the Magnificent Seven stocks. However, can it maintain its leadership position through the second half of 2024? Ed Egilinsky, Managing Director at Direxion, shares his insights, shedding light on the key drivers and potential headwinds for this tech titan. Nvidia’s Sky-High Valuations Give Investors A Pause “Nvidia has been a stalwart in the tech space over the last few years,” Egilinsky acknowledges. “However, its current valuation might make some investors pause. There is no denying Nvidia is a leader in the chip space and more specifically regarding AI-related chips. They should be a not

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) saw its shares rise to a record on Thursday in the Taiwan Stock Exchange. The rally boosted Taiwan Semiconductor’s market capitalization to over $946 billion in the U.S. stock exchange as of Friday. Investors are optimistic that Taiwan Semiconductor will benefit from robust demand for artificial intelligence (AI) and high-performance computing (HPC) chips, the Taiwan Times reports. Taiwan Semiconductor has surged 69.48% this year, solidifying its position as the most valuable stock on the local exchange and the world’s 10th-largest company by market capitalization. Analysts anticipate a positive earnings report from Taiwan Semicon

The S&P 500 and Nasdaq 100 indices surged to new all-time highs on Thursday, as investors heightened their expectations for rate cuts following June’s sharply lower-than-expected services sector activity, which experienced its worst contraction since May 2020. Market-implied odds of a Fed rate cut in September rose from 65% to 72%, according to CME Group’s FedWatch tool, with traders pricing in more than 50 basis points of rate cuts by year end, implying two fully priced rate reductions by the Fed. Risk sentiment was particularly strong ahead of the Federal Open Market Committee (FOMC) Minutes, slated to be released at 2:00 p.m. ET. Nvidia Corp. (NASDAQ:NVDA) and the chip making

Technology sector optimism has catapulted the SPDR S&P 500 ETF Trust (NYSE:SPY) to all-time highs in 2024 even amid tough macroeconomic conditions and geopolitical uncertainty. Despite the rally, there are mixed signals on Wall Street. The Data: A post on X relayed data from Goldman Sachs. This is interesting:Hedge funds have been selling US tech stocks at the fastest pace in at least 7 years this month, according to Goldman Sachs.Semiconductor stocks have been the most heavily sold, followed by software and internet stocks.This comes after Nasdaq 100 has… pic.twitter.com/FIaVLre7qG— The Kobeissi Letter (@KobeissiLetter) June 30, 2024 June 2024 was the largest sell-off of technology s

June closed on a high note for the stock market, with the S&P 500, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), gaining 3.2%, despite significant disparities in sector and industry performances. The technology sector, as tracked by the Technology Select Sector SPDR Fund (NYSE:XLK), led the 11 S&P 500 sectors in performance last month, surging 7.7% and achieving its strongest monthly gain this year. In stark contrast, utilities lagged, with the Utilities Select Sector SPDR Fund (NYSE:XLU) dropping 6.3%, marking the worst month since September 2023. Top Performing Industry ETFs In June The iShares Expanded Tech-Software Sector ETF (NYSE:IGV) rallied 11.3% last month, topping

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) received government approval to inject an additional $10.26 billion to finance the construction of its second fab in Kumamoto, Japan, and a second fab in Arizona using advanced process technologies. The Department of Investment Review approved TSMC’s investment applications, the Taipei Times reports. TSMC stock is trading higher on Friday. TSMC makes its most advanced chips domestically, operates its research-and-development center in Taiwan, and maintains most of its capacity there. TSMC is a key Nvidia Corp (NASDAQ:NVDA) supplier and has led the global foundry revenue, holding a 62% market share in the first quarter. The new

Wall Street experienced a subdued trading day on Thursday, as traders likely chose to remain on the sidelines in anticipation of Friday’s release of the Federal Reserve’s preferred inflation gauge. In regulatory news, U.S. banks successfully passed the Federal Reserve’s 2024 stress tests. The results demonstrated that all analyzed institutions could maintain minimum capital requirements even in the face of a severe economic shock. Notably, regional banks, as tracked by the SPDR S&P Regional Banking ETF (NYSE:KRE), performed relatively better overall compared to their larger counterparts. As of midday trading in New York, major indices showed marginal gains, with small caps outperformi

Wall Street experienced a mixed session on Wednesday, as investors adopted a cautious stance following Tuesday’s gains while awaiting key economic data releases later this week, including the Fed’s preferred inflation report due on Friday. At noon in New York, major U.S. averages traded flat, showing a lack of direction. Notably, 10 out of 11 sectors in the S&P 500 were in the red, with consumer discretionary being the only sector to post gains. Small caps fell by 0.3%, while blue chips edged up by 0.1%. The semiconductor industry failed to continue its rebound, as the iShares Semiconductor ETF (NYSE:SOXX) dropped 1%, with Nvidia Corp. (NASDAQ:NVDA) down 2%. Treasury yields rose, pa

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) is set to play a crucial role in a potential collaboration between ByteDance Ltd and Broadcom Inc (NASDAQ:AVGO). The two companies are discussing the development of a 5-nanometer AI processor to bolster ByteDance’s technological capabilities, Bloomberg reports. Meanwhile Taiwan Semiconductor stock is trading lower Monday. Also Read: Broadcom Rises As Top AI Chip Supplier After Nvidia, Thanks To Google And Meta Partnerships: Analyst ByteDance aims to secure a steady supply of advanced chips to support its operations, which include the globally popular TikTok platform and the Chinese services Douyin and Toutiao. In March, Broadcom

Both the S&P 500 and Nasdaq 100 indices surged to new historic highs on Tuesday, driven by strong performance in the technology and semiconductor sectors. Toward the end of the trading week, which was shortened by the Juneteenth holiday, profit-taking in chipmaker stocks emerged, tempering earlier gains. Nvidia Corp. (NASDAQ:NVDA) snapped a eight-week winning streak, dropping by more than 4% for the week. This decline also pulled down the broader chipmaker industry, as tracked by the iShares Semiconductor ETF (NYSE:SOXX). Concerns are growing among analysts regarding the lack of broad participation in the stock market rally and the significant concentration of major equity indices in a

Wall Street is experiencing a subdued and low volatility trading day Friday, despite the session coinciding with the “triple witching” day, with over $5.1 trillion of notional options exposure expiring, surpassing the previous record set in December 2023. Chipmakers continue to struggle in the aftermath of Thursday’s sell-off, suggesting that while the wave of profit-taking is easing, there is little sign of new buyers stepping in at these levels. Nvidia Corp. is down 1.6%, poised to break an eight-week winning streak. The sector benchmark, the iShares Semiconductor ETF (NYSE:SOXX), is witnessing its worst two-day performance since May 1. The major indices and sectors remained flat,

After the Juneteenth holiday break, Wall Street reopened with a cautious tone, as the S&P 500 and Nasdaq 100 indices declined after hitting all-time highs around midday trading in New York. This decline was driven by profit-taking in chipmaker stocks and rising Treasury yields, which dampened risk sentiment. The iShares Semiconductor ETF (NASDAQ:SOXX) fell by 2.4%, marking its worst session since May 1, after reaching technically “overbought” levels earlier in the week. Oil prices surged above $81 a barrel, aiming for the highest close since late April. This was spurred by larger-than-expected drops in U.S. inventories last week, fueling a rally in oil-related companies. Small caps

Wolfspeed Inc (NYSE:WOLF) has reportedly postponed plans to build a $3 billion plant in Germany, underlining the European Union’s ongoing challenges to boost semiconductor production and lessen dependency on Asian chips. The proposed facility in Saarland, intended to manufacture chips for electric vehicles, is still in the planning stages and seeking funding, Reuters reported, citing a company spokesperson. Wolfspeed has reduced capital spending due to weak EV markets in Europe and the U.S. and is now concentrating on ramping up production in New York. Construction in Germany is delayed until mid-2025, two years later than planned. The company faces pressure from an activist inve

The semiconductor rally continues its unstoppable advance, fueled by the propulsion of artificial intelligence, with the U.S. chipmaking industry now soaring to a combined valuation of $6.3 trillion. The PHLX Semiconductor Sector Index, mirrored by the Invesco PHLX Semiconductor ETF (NYSE:SOXQ), is poised for a 6% gain this week, marking its strongest performance in two months and achieving record high levels. Since late October 2023, the index has surged by 78%, while the broader chip industry has seen an astonishing 169% increase from its October 2022 low. In stark contrast, the broader tech sector, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ), has risen by 39% from its Octobe

Nvidia Corp (NASDAQ:NVDA), Advanced Micro Devices, Inc (NASDAQ:AMD), and other semiconductor chip companies are trading higher on Wednesday due to the continued artificial intelligence frenzy amid odds. The U.S. government proposes to extend its semiconductor technology embargo to Russia after China and the Middle East, citing that China’s increasing trade with Russia is enabling Moscow to continue arming its military. Prior sanctions on China followed manufacturing of tailor-made lesser effective chips by the semiconductor companies to comply with the sanctions. Meanwhile, key Nvidia supplier Taiwan Semiconductor Manufacturing Co (NYSE:TSM) is looking to hire nearly 2,000 employees

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) plans to hire nearly 2,000 employees from Germany and other European countries through its subsidiary, European Semiconductor Manufacturing Co (ESMC), according to ESMC president Christian Koitzsch, the Taipei Times reports. In 2024, the tech sector surpassed 2023’s layoff figures, with over 42,324 workers losing their jobs. This follows nearly 263,000 tech layoffs in 2023, continuing the industry’s trend of job cuts. Major companies, including Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Amazon.Com Inc (NASDAQ:AMZN), and Microsoft Corp (NASDAQ:MSFT), announced significant layoffs. The rapid advancement in AI technology requires sub