Chip Stocks On The Rise: Nvidia, Micron, Qualcomm Propel SMH And SOXX ETFs To New 52-Week Highs

Zinger Key Points
  • Nvidia, Micron, and Qualcomm's stellar performances have driven SMH and SOXX ETFs to new 52-week highs, driven by strong investor sentiment.
  • Robust chip demand, supply chain and tech advancements have propelled Nvidia, Micron, and Qualcomm stocks, boosting SMH and SOXX ETFs

The semiconductor industry is experiencing a surge with stocks of key players like Nvidia Corp NVDA, Micron Technology Inc MU and Qualcomm Inc QCOM.

These chip stocks’ performances have led semiconductor-tracking ETFs such as the VanEck Semiconductor ETF SMH and the iShares Semiconductor ETF 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.

  • The VanEck Semiconductor ETF or SMH ETF is up over 65% YTD. The ETF has 22.30% allocation to Nvidia, 5.24% to Qualcomm and 4.46% to Micron.
  • The SMH made a new 52-week high of $250.85 on May 28.
  • Similarly, the iShares Semiconductor ETF or SOXX ETF is up over 24% YTD. Nvidia, Qualcomm and Micron have a 9.80%, 7.58% and 5.21% allocation, respectively, in the SOXX portfolio.
  • SOXX recorded a new 52-week high of $253.63 on May 28.

Here’s how the two ETFs compare against each other:

VanEck Semiconductor ETF (SMH)iShares Semiconductor ETF (SOXX)
Expense Ratio0.35%0.35%
Assets Under Management$20.66B$14.05B
Average Daily $ Volume$1.48B$678.12M
Index TrackedMVIS U.S. Listed Semiconductor 25 IndexNYSE Semiconductor Index
Number of Holdings2631
1 Year66.75%47.33%
Average Daily $ Volume$1.48B$678.12M
P/E Ratio47.6245.16
P/B Ratio7.745.92

Data Source:

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?

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs
Posted In: Long IdeasSector ETFsTop StoriesTechTrading IdeasETFsAIartificial intelligenceExpert IdeassemiconductorsStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!