“Semiconductor shipments reached all-time highs in the third quarter of 2021, demonstrating both the ongoing high global demand for chips and the industry’s extraordinary efforts to ramp up production to meet that demand,” said John Neuffer, SIA president and CEO. Although the industry is grappling with a chip crunch, the ever-increasing demand is a plus for the space. Per the Semiconductor Industry Association, global sales of semiconductors totaled $144.8 billion during the third quarter of 2021, marked an increase of 27.6% over the third quarter of 2020 and 7.4% from the second quarter of 2021. In fact, the latest dip can be used to buy some hidden gems.Īgainst this backdrop, below we highlight a few tech ETF spaces that should bought or sold right now. But this does not mean that the entire sector is in the lackluster shape. No wonder, Technology Select Sector SPDR Fund ( XLK Quick Quote XLK - Free Report) has lost about 8.6% in the year-to-date frame. Heavy reliance on the tech sector led to this lackluster performance. The Nasdaq Composite has lost 7.8% this year as investors continue to walk out of the high-growth tech shares as interest rates surge to start the new year (read: Nasdaq ETFs to Log Worst Month Since 2008? 5 Stocks Up 20%+). The index had already entered the correction territory in January. The Nasdaq, heavy on technology and growth stocks, has been extremely hit due to this trend. Higher inflationary expectations emanating from supply chain disruptions as well as higher crude prices should make Fed members comfortable with several rate hikes in the coming days with the first one since 2018 likely to hit the market in March. Wall Street has been on choppy ride since the start of 2022 due to rising rate worries.
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