Semiconductor ETFs have lost 21% in the past month, with mixed earnings results from major players
From Nasdaq: 2024-08-08 12:26:00
The semiconductor sector has suffered during the latest market downturn as investors shifted focus to sectors expected to benefit from rate cuts. Many semiconductor stocks have become overvalued due to the AI craze. Earnings reports from major players like Intel, Texas Instruments, Lam Research, TSM, AMD, and Qualcomm have had mixed results. VanEck Vectors Semiconductor ETF, iShares Semiconductor ETF, Invesco PHLX Semiconductor ETF, First Trust NASDAQ Semiconductor ETF, and Strive U.S. Semiconductor ETF have all lost about 21% in the past month due to the sector’s performance.
Intel missed earnings estimates and guided a loss for the third quarter. Texas Instruments beat earnings but missed revenue estimates. Lam Research exceeded revenue and earnings expectations. Taiwan Semiconductor Manufacturing reported robust earnings. Advanced Micro Devices beat earnings estimates. Qualcomm surpassed earnings estimates and provided a positive outlook for the future.
VanEck Vectors Semiconductor ETF tracks the MVIS US Listed Semiconductor 25 Index and has $20.1 billion in assets. iShares Semiconductor ETF follows the NYSE Semiconductor Index and has $13 billion in assets. Invesco PHLX Semiconductor ETF tracks the PHLX Semiconductor Sector Index and has $435.3 million in assets. First Trust Nasdaq Semiconductor ETF follows the Nasdaq US Smart Semiconductor Index and has $1.3 billion in assets. Strive U.S. Semiconductor ETF follows the Bloomberg US Listed Semiconductors Select Total Return Index and has $69.7 million in assets.
Read more at Nasdaq: Semiconductor ETFs Bear the Brunt of Market Rout