AMD surges 15% after Q1 beat and strong outlook, boosting appeal of ETFs like SMH as investors seek growth with lower single-stock risk.
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AMD surges 15% after Q1 beat and strong outlook, boosting appeal of ETFs like SMH as investors seek growth with lower single-stock risk.
Chips were on pace to fall a second day in a row after the sector’s benchmark ETF ended its longest winning streak on record yesterday. The iShares Semiconductor ETF was down 3.6% on Tuesday, which would be its biggest daily decline since it fell 4.2% on March 30. “The move in the SOX is like stretching a rubber band,” Jonathan Krinsky, BTIG’s chief market technician, wrote on Monday.