The VanEck Semiconductor ETF (SMH) provides concentrated exposure to major global semiconductor companies like NVIDIA, TSMC, and Broadcom. With about 25 stocks, SMH is known for higher volatility due to a few dominant chipmakers. Investors use SMH to bet on long-term growth in chips, AI, and tech hardware, but it can swing sharply due to the cyclical nature of the semiconductor industry. Based on Elliott Wave theory, SMH is trading within a five-wave bullish impulse from the April lows, with the potential to extend above the October highs towards the 400 area. Short-term pullbacks are possible, but the broader trend remains bullish.

Read more at Barchart: SMH Is In Wave 5 Extension As Semiconductors Aim For 400 Area