The market’s three largest non-leveraged Semiconductor ETFs, iShares Semiconductor ETF (SOXX), VanEck Vectors Semiconductor ETF (SMH) and SPDR S&P Semiconductor ETF (XSD) rose for the third straight session, closing higher by +2.82%, +2.87% and +2.50% respectively.
Semiconductors ETFs have been lifted by better-than-expected results of some of their top constituents. A burst of positive earnings reports from key players like NVIDIA, Texas Instruments, Intel, Qualcomm and Advanced Micro Devices spread optimism in the sector.
NVIDIA, the second largest semiconductor company by market cap reported last week record revenue for the second quarter fiscal year 2022, of $6.51 billion, up 68% year-on-year and 15% from the previous quarter. The chipmaker also posted record revenue from the company’s Gaming, Data Center and Professional Visualization platforms.
Semiconductor ETFs were among the hottest ETFs this year due to global chip shortages that has disrupted major tech and automobile companies, not to mention the increased crypto mining interest around the world. With the bright outlook from their top holdings, these ETFs are flashing on investors’ radar.
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