NASDAQ:SOXX - Nasdaq - US4642875235 - ETF - Currency: USD
CEO Lip-Bu Tan said the first quarter was a step in the right direction but added that there are no quick fixes.
The company noted that revenue and operating profit were the second highest after the previous quarter’s record numbers.
Last week, thematic and leveraged ETFs performed well, such as DJTU, LLYX, NFXL, DECO, and MSTY, despite market concerns. Tech sector was hit by geopolitical tension and hawkish central bank comments. Earnings were mixed, with UNH cutting its full-year forecast.
Wall Street ended Easter week red due to US-China chip export restrictions, mixed earnings, and trade tensions. Fed hints at no rate cuts.
It's been a wild week for semiconductor stocks. One of the largest semiconductor exchange-traded funds (ETFs) by net assets is the iShares Semiconductor ETF (NASDAQ: SOXX). The fund surged 19% on Wednesday, fueled by huge gains in top holdings like Nvidia and Broadcom, as the market skyrocketed in hopes that trade tensions could ease.
ETFs with a focus on AI companies could position investors to capitalize on the large-scale adoption of this revolutionary technology in coming years.