This semiconductor ETF is headed for its best quarterly gain in a year. Here are the winners

[Pelican Press 0]

This semiconductor ETF is headed for its best quarterly gain in a year. Here are the winners

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,” JPMorgan analysts wrote. While Nvidia-led AI tailwinds may have catapulted the sector toward another winning quarter, it’s far from the only theme driving the SMH’s gains. Gabelli Funds portfolio manager and technology analyst Hendi Susanto points to expectations for a recovery in areas such as memory, personal computers and smartphone as a potential driver behind some of the *******’s winning stocks. Many investors are “frontloading” those bets even if a turnaround won’t hit until 2025, he added. TSM YTD mountain Stock performance in 2024 This includes memory chipmaker Micron Technology , the second-best performer in the SMH. Shares have skyrocketed more than 39% to start 2024, helped by strong sales in high bandwidth memory necessary in AI infrastructure. Micron popped 14% earlier this month on a strong earnings beat driven by AI demand , which propelled the stock to its best day since 2011. Harvest Portfolio Management’s Paul Meeks called Micron’s announcement that its AI-related chips are basically booked through 2025 a bold move for a company he’s covered since its public markets debut in the 1980s. “When you make that comment, you know if you don’t deliver, your stock will go down,” he said. Despite the first quarter’s astounding run, some on Wall Street have raised the alarm on the rapid price appreciation in the sector, with UBS strategist Andrew Garthwaite cautioning that this price momentum flashes some warnings signals. At the same time, not every semiconductor has experienced the luck of the AI trade, with seven stocks in the index poised for a losing quarter. Intel has seen the biggest slump in the SMH, with shares down 13%. That’s followed by Universal Display and STMicroelectronics , headed for losses exceeding 12%.

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Advanced Micro Devices Inc,

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,Qualcomm Inc,Intel Corp,Micron Technology Inc,Taiwan Semiconductor Manufacturing Co Ltd,Taiwan Semiconductor Manufacturing Co Ltd,VanEck Semiconductor ETF,NVIDIA Corp,STMicroelectronics NV,Universal Display Corp,Investment strategy,Stock markets,regwall-pro,business news
#semiconductor #ETF #headed #quarterly #gain #year #winners

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