The VanEck Semiconductor ETF (SMH) has gained about 146% over the past year, with nearly 20% growth in May alone, and is up 66% year to date. Unlike common assumptions, NVIDIA is not the main driver; the fund's modified equal-weight structure means top holdings like AMD, Broadcom, Micron, and TSM each hold significant influence. The ETF's performance is closely tied to hyperscaler AI spending and memory pricing trends, with key upcoming events including Broadcom's June 3 earnings report and hyperscaler capex guidance from major tech firms in July and October. Investors should watch these signals as any reduction in hyperscaler spending could impact SMH more than macroeconomic factors like inflation or interest rates.
SK Hynix's options began trading in the U.S. with about 150,000 contracts by midday Tuesday, showing less excitement than expected despite a strong stock rally. The most popular trades were bearish call sales, possibly because leveraged single-stock ...
The Direxion Daily Semiconductor Bull 3X Shares (SOXL) surged nearly 293% year-to-date but recently fell about 30% in the last month, including a sharp 16% drop in one day. SOXL uses leverage to triple daily semiconductor index returns, but this also...
