Chip Stocks On The Rise: Nvidia, Micron, Qualcomm Propel SMH And SOXX ETFs To New 52-Week Highs – Markets Insider
The semiconductor industry is experiencing a surge with stocks of key players like Nvidia Corp (NASDAQ:NVDA), Micron Technology Inc (NASDAQ:MU) and Qualcomm Inc (NASDAQ:QCOM).
These chip stocks’ performances have led semiconductor-tracking ETFs such as the VanEck Semiconductor ETF (NASDAQ:SMH) and the iShares Semiconductor ETF (NASDAQ:SOXX) to new 52-week highs.
Factors such as robust demand for chips, supply chain improvements, and technological advancements have fueled the rally.
Nvidia stock is up over 125% year-to-date; Micron stock is up over 55% year-to-date; and Qualcomm stock returned over 45% to investors so far this year.
Also Read: Nvidia’s Meteoric Rise – How Does It Compare To Other Market Rallies?
Nvidia, Micron, and Qualcomm have emerged as top performers in the semiconductor sector. The performance of these leading chip stocks has also had a significant impact on semiconductor-focused ETFs like SMH and SOXX, driving them to new highs.
Here’s how the two ETFs compare against each other:
Data Source: ETF.com
With continued demand for chips across various industries and ongoing innovations, these stocks and ETFs could maintain their upward trajectory.
The remarkable performance of Nvidia, Micron, and Qualcomm underscores the strength of the semiconductor sector. Investors in SMH and SOXX stand to benefit from this bullish trend, with the potential for further gains as the industry continues to evolve.
Read Next: When Will Nvidia Be The Most Valuable Company In The World?
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