最新ニュース VanEck Semiconductor ETF (NASDAQ:SMH)

VanEck Semiconductor ETF

Technology

The Fund normally invests at least 80 percent of its total assets in securities that comprise the Funds benchmark index. The Semiconductor Index includes common stocks and depositary receipts of U.S. exchange-listed companies in the semiconductor industry. Such companies may include medium-capitalization companies and foreign companies that are listed on a U.S. exchange. To be initially eligible for the Semiconductor Index, companies must generate at least 50 percent of their revenues from semiconductors. Semiconductors include companies engaged primarily in the production of semiconductors and semiconductor equipment. Of the largest 50 stocks in the semiconductor industry by full market capitalization, the top 25 by free-float market capitalization (i.e., includes only shares that are readily available for trading in the market) and three month average daily trading volume are included in the Semiconductor Index.

NVIDIA Corporation

Taiwan Semiconductor Manufacturing Co L

Broadcom Inc

Advanced Micro Devices Inc

Asml Holding Nv

Lam Research Corp

Texas Instruments Inc

Intel Corp

MICRON TECHNOLOGY INC

Qualcomm Inc

Kla Corp

Analog Devices Inc

ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B

SAMTY HLDGS CO LTD by SAMTY HLDGS CO LTD.

SIMCERE PHARM GRP LTD by SIMCERE PHARMACEUTICAL GROUP LTD

Simcere Pharmaceutical Group Ltd

Seacor Marine Holdings Inc

SMOORE INTL HLDGS ADR by Smoore International Holdings Ltd.

Smoore International Holdings Ltd

VanEck Fabless Semiconductor ETF

Macro Economic Events

Market Summary

Economics

General

$BTC

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Benzinga Market Summary: S&P Rises As Trump Unveils UK Trade Framework, Bitcoin Surpasses $100K, Chip Stocks Higher Following Wednesday Report Suggesting Trump Will Rescind Global Chip Curbs

Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Wall Street&#8217;s AI poster child and heart of the generative tech revolution, may have just experienced a voltage dip. The company&#8217;s largest growth driver, its <a href="https://www.benzinga.com/topic/nvidia">data center revenue</a>, is reportedly heading for a $9.8 billion-sized pothole should capital spending grind to a halt and Chinese demand continue to flatline, according to a new note from Piper Sandler.
Analyst Harsh Kumar cautioned that, worst case, around 6.45% of Nvidia&#8217;s data center revenue might be in jeopardy, exposed to capex cuts across data center end markets. If that materializes, he expects the share price to drop to $76.25, assuming a 25x multiple. That&#8217;s a far cry from the company&#8217;s reaffirmed $150 price target.
So, what&#8217;s an ETF investor to do when their artificially intelligent knight starts showing signs of rust? Here&#8217;s a glance at the <a href="https://www.benzinga.com/etfs">funds that might mitigate the pain</a>, or grab the opportunity.
Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44854262/chipwrecked-nvidias-export-ban-triggers-etf-meltdown-and-one-big-winner">Chipwrecked: Nvidia&#8217;s Export Ban Triggers ETF Meltdown (And One Big Winner)</a>
<ol>
<li>Nvidia Sneezes, They Catch A Cold</li>
</ol>
VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) – With more than 20% of its positions in NVDA, SMH is essentially a fan club. Wonderful during an AI bubble; dangerous when storms brew.
iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) – Likewise Nvidia-heavy at about 8–10% exposure, it&#8217;s a diversified play but still has significant downside risk if the GPU king falls.
Direxion Daily NVDA Bull 1.5X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDU#NASDAQ">NVDU</a>) – For those who prefer their risk leveraged and their stomachs iron-clad.
The bottom line is that these are high-octane plays—gorgeous on the way up, but can&#8217;t wait for a seatbelt on the way down.
<ol start="2">
<li>The Gentle Gliders</li>
</ol>
ROBO Global Robotics and Automation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROBO#NYSE">ROBO</a>) – Holds Nvidia, sure, but also a global buffet of robotics, automation, and industrial AI plays.
Global X Robotics &amp; Artificial Intelligence ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOTZ#NASDAQ">BOTZ</a>) – Nvidia&#8217;s in there, but BOTZ offers more geographic diversification.
WisdomTree Artificial Intelligence and Innovation Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/WTAI#BATS">WTAI</a>) – A thematic newcomer that bets on AI's long-term arc without going all-in on Nvidia.
<ol start="3">
<li>Safety First: Dividend &amp; Low-Volatility Tech Funds</li>
</ol>
First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDIV#NASDAQ">TDIV</a>) – Taps income-tech with light exposure to Nvidia.
Invesco S&amp;P 500 Low Volatility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPLV#NYSE">SPLV</a>) – Not tech-narrow, but defensive sanctuary should markets turn down.
Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – Still owns Nvidia, but watered down by a who&#8217;s-who of mega-cap tech; more of a tech index security blanket.
<ol start="4">
<li>The Contrarians: Betting on a Burnout</li>
</ol>
Direxion Daily Semiconductor Bear 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) – Triple-leveraged short exposure to semis. Not for the faint of heart or long-term holders.
AXS Short Innovation Daily ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SARK#NASDAQ">SARK</a>) – Playing against the ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>), which typically reflects sentiment across names such as Nvidia, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), etc.
Caveat emptor: These aren&#8217;t hedges; they&#8217;re tactical nukes. It&#8217;s wise to assess your risk appetite before investing.
Also Read: <a href="https://www.benzinga.com/tech/25/05/45235394/nvidia-broadcom-lead-fund-manager-buys-even-as-semiconductor-sector-cools-analysts">Nvidia, Broadcom Lead Fund Manager Buys Even As Semiconductor Sector Cools: Analysts</a>
The Bigger Picture
Piper Sandler issued a cautionary note, but they remain bullish on Nvidia in the long run, reiterating its Overweight rating. The firm is still the unchallenged leader in AI infrastructure, with increasing sales of its Blackwell AI supercomputers and a strong lead in GPU-based AI acceleration.
However, future Q1 earnings and trade headwinds, particularly new U.S. export controls on AI chips, may test investors&#8217; conviction.
Nvidia will report Q1 in late May, with the Street looking for EPS of $0.89 (a 45% YoY increase) and revenue of $43 billion (a 65% gain), according to Forbes. If these figures hold or even beat to the upside, current pessimism could prove short-lived.
Final Byte
For ETF investors, the Nvidia wobble is not a cause for alarm. It&#8217;s a reminder to examine exposure, diversify carefully and perhaps have a few hedges up one&#8217;s sleeve. As with everything AI, the future is rosy but perhaps best seen through a slightly risk-adjusted pair of glasses.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/05/45235676/exclusive-expert-explains-how-this-gold-etf-lets-you-physically-hold-your-wealth-and-why-investors-are-quietly-rushing-in">Exclusive: Expert Explains How This Gold ETF Lets You Physically Hold Your Wealth And Why Investors Are Quietly Rushing In</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

ETFs

ARKK

BOTZ

NVDA

NVDU

ROBO

SARK

Direxion Daily Semiconductor Bear 3X Shares

SOXS

PowerShares S&P 500 Low Volatility Portfolio

SPLV

TDIV

TSLA

WisdomTree Trust WisdomTree Artificial Intelligence and Innovation Fund

WTAI

Alarm Bells For Nvidia As $9.8 Billion Blow Threatens A Crash: ETFs With Most Risk Or Opportunity

WIIM

ACMR

AMAT

AOSL

ASML

AVGO

ENTG

FORM

HIMX

KLAC

LRCX

LSCC

MCHP

MKSI

NXPI

QCOM

RMBS

SMTC

Shares of chip stocks are trading higher amid overall market strength on reports indicating China is assessing US trade talks. Additionally, jobs data may be easing some market fears. NVIDIA shares rose on reports indicating the company is working on China-tailored chips.

MRVL

SMCI

Shares of semiconductor stocks are trading higher following strong earnings from Microsoft and Meta.

Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) will report its second-quarter earnings on Wednesday. As the company reports after market hours, Wall Street expects $2.81 in EPS and <a href="https://www.benzinga.com/topic/semiconductors">$10.65 billion in revenues</a>.
The stock is down 11.44% over the past year, 4.40% YTD. Despite the decline, Qualcomm stock has been an outperformer in the chip sector so far this year. The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) is down over 15% YTD while the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) is down 14%.
Wednesday's post-close earnings will put that momentum to the test. Beyond the headline numbers, Wall Street is laser-focused on two flashpoints: the potential impact of renewed Trump-era tariffs and any hints about Apple Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://benzinga.com/etfs/specialty-etfs/25/02/43888012/apples-in-house-modem-chip-sparks-qualcomm-concerns-3-etfs-with-key-exposure">expected phase-out of Qualcomm's modem chips</a>.
Let&#8217;s examine the charts for Qualcomm stock and how it currently compares to Wall Street estimates.
Read Also: <a href="https://www.benzinga.com/25/04/45006138/smarter-cars-ahead-visteon-qualcomm-unveil-ai-cockpit-system">Visteon, Qualcomm Unveil AI Cockpit System For Smart Cars</a>
<h2 class="wp-block-heading">QCOM Stock Chart Mixed Ahead Of Q2 Earnings</h2>
Qualcomm stock is treading water ahead of earnings, with technical indicators painting a mixed picture for investors.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0430"><img loading="lazy" decoding="async" width="627" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/30064138/Screenshot-2025-04-30-at-4.10.36-PM.png" alt="" class="wp-image-894586" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/30064138/Screenshot-2025-04-30-at-4.10.36-PM.png 627w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/30064138/Screenshot-2025-04-30-at-4.10.36-PM-300x234.png 300w" sizes="(max-width: 627px) 100vw, 627px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0430">Chart created using Benzinga Pro</a>
Qualcomm stock, at $146.88, is showing slight selling pressure and a relatively stagnant trend. However, short-term momentum leans bullish, with Qualcomm trading above its eight-day and 20-day simple moving averages ($142.78 and $140.07, respectively). This positioning typically suggests underlying strength and potential for a near-term move higher.
That said, medium- to longer-term signals flash caution. Qualcomm stock is still below its 50-day simple moving average of $151.38 and well beneath its 200-day simple moving average of $163.63 &#8211; both bearish indicators that imply resistance and a broader downtrend. 
The Moving Average Convergence Divergence (MACD) sits at a negative 1.61, reinforcing the bearish undertone, while the Relative Strength Index (RSI) at 52.22 signals a neutral stance, suggesting QCOM stock is neither overbought nor oversold. 
For investors, this setup suggests cautious optimism in the short term, but a clearer breakout or breakdown post-earnings could be needed to set the tone for what's next.
<h2 class="wp-block-heading">Qualcomm Analysts See Over 10% Upside</h2>
Ratings &amp; Consensus Estimates:<a href="https://www.benzinga.com/quote/QCOM/analyst-ratings" target="_blank" rel="noreferrer noopener"> The consensus analyst rating</a> on Qualcomm stock stands at a Buy currently with a price target of $193.41 a share. The latest analyst ratings from JPMorgan, Citigroup and TD Cowen imply a 10.39% upside for QCOM stock.
Price Action: Qualcomm stock closed the trading day Tuesday at $146.88, down 0.50%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/25/04/45094345/as-chinas-manufacturing-contracts-beijing-releases-defiant-video-calling-us-a-paper-tiger-and-vows-to-never-kneel-to-trumps-trade-war">As China&#8217;s Manufacturing Contracts, Beijing Releases Defiant Video Calling US A &#8216;Paper Tiger&#8217;</a></li>
</ul>
Image: Shutterstock

Technicals

Previews

Tech

Trading Ideas

AAPL

Qualcomm Stock Momentum Faces A Midweek Stress Test — Apple, Tariffs To Blame?

Shares of chip stocks are trading lower after Super Micro Computer cut its preliminary guidance.

Shares of semiconductor stocks are trading lower. The sector may be reacting to reports suggesting Huawei has developed an AI chip to challenge NVIDIA.

Investors ditched their worries last week, and <a href="https://www.benzinga.com/etfs">some ETFs exploited the increased euphoria</a> full tilt.
ETF Weekly Performance Highlights:
VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>):
SMH jumped 13% last week, fueled by a spectacular rally in chip stocks. Investor optimism over AI, cloud computing, and tenacious demand for semiconductors fueled the meteoric surge of this ETF.
Virtus LifeSci Biotech Clinical Trials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBC#NYSE">BBC</a>): BBC rose 7%, with the biotech industry regaining some much-needed mojo. Investors seemed happy to roll the dice on clinical trial breakthroughs, ignoring the industry&#8217;s typical volatility.
Simplify Volt TSLA Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TESL#NYSE">TESL</a>): TESL surged 31.2% in its strongest week in months. Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock jumped after <a href="https://www.benzinga.com/markets/25/04/44974342/elon-musks-wealth-skyrockets-by-billions-as-tesla-stock-rallies-after-billionaire-ceo-steps-back-from-doge">Elon Musk promised to dial back his time with the government</a> and shift his focus back to the EV behemoth, music to Tesla shareholders&#8217; ears.
Invesco S&amp;P 500 High Beta ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPHB#NYSE">SPHB</a>): SPHB gained 11.5% as risk appetite roared back. High-beta stocks, the market&#8217;s resident drama queens, were once again popular with investors seeking momentum.
iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>): IBIT gained 9.2%, benefiting from Bitcoin&#8217;s recovery and renewed optimism about crypto. Hodl (&#8220;Hold on for dear life&#8221;), it seems, remains a lifestyle choice.
What Happened Last Week
While ETFs led the dance, overall market sentiment also <a href="https://www.benzinga.com/government/regulations/25/04/45022314/wall-street-recovers-dollar-steadies-as-trump-tempers-trade-fight-signals-support-for-powell-this-week-in-markets">received a much-needed dose of adrenaline</a>.
Markets regained their groove as investor anxiety over the U.S.–China trade war eased. The Trump administration signaled the possibility of tariff reductions, and China considered putting some levies on hold, according to reports. Never one to pass up a headline, President Donald Trump assured investors he had no intention of firing Fed Chair Jerome Powell, which eased concerns over central bank autonomy.
The S&amp;P 500 has clawed back almost 80% of its post-April 2 &#8220;Liberation Day&#8221; sell-off. Earlier sell-offs in Treasuries and the dollar also halted, as investors adopted a risk-on sentiment.
But beneath the surface, warning lights continue to flash:
U.S. private sector growth<a href="https://www.benzinga.com/government/regulations/25/04/44952395/us-business-activity-growth-slows-in-april-as-services-suffer-tariff-shock-markets-rally-as-trade-war-cools"> moderated to a 16-month low</a>. Consumer sentiment saw the worst three-month slump since the 1990 recession.
Inflation expectations jumped to levels not seen since &#8220;Eye of the Tiger&#8221; was the chart-topper.
In the stock world, ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) posted a 20% weekly gain on robust earnings, and Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) dropped 15% after scaling back its 2025 outlook. Tesla shares, meanwhile, had their largest weekly jump since November following Musk&#8217;s pledge to spend less time with the Department of Government Efficiency (DOGE) and focus more on making electric vehicles.
What&#8217;s Ahead
Action this week will be paramount, with high-profile earnings from Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). In addition, look for a data dump: the initial peek at Q1 GDP, the Fed&#8217;s favored inflation gauge for March, and the April jobs report.
Markets may have flown high last week, but this week may be an entire different ball game.
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/04/45039498/sec-approves-proshares-xrp-futures-etfs-xrp-price-surges-ahead-of-launch">SEC Approves ProShares XRP Futures ETFs: XRP Price Surges Ahead Of Launch</a></li>
</ul>
Photo: Aksana Mestnaya/Shutterstock

Broad U.S. Equity ETFs

AMZN

IBIT

MSFT

SPHB

TESL

ETFs Last Week: Funds Lead The Charge As Markets Stage A Return To Risk-On

The world&#8217;s largest exchange-traded fund tracking the Nasdaq 100 index is on track for its worst week of outflows since November 2024, highlighting growing investor unease about the sustainability of the tech sector&#8217;s rebound from <a href="https://www.benzinga.com/topic/tariffs">the tariff-led selloff.</a>
The Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) lost $3.97 billion over the first four days of the week, according to TradingView data, with Friday's flows yet to be reported. This marks potentially the worst weekly outflows in six months. 
Notably, this exodus occurs even as the Nasdaq 100 posted a robust weekly performance, soaring over 6%.
The VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) suffered outflows for $1.4 billion over the week, the worst since July 2024. 
Similarly, the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) recorded $347 million in outflows this week, heading toward its worst weekly outflow since December 2024. This drain comes even as chipmaker stocks surged 11% over the same period, the strongest weekly gains since November 2022. 
Pressure is also being felt at the top of the tech elite: The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) registered outflows for the second consecutive week.
<h1 class="wp-block-heading">Investors Are Rotating Out Of Tech Into Blue-Chip Stocks</h1>
Instead of an outright exit from risk assets, the flows suggest a sector rotation as investors appear to be moving from tech stocks into more traditional blue-chip names.
The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) recorded its largest single-day inflow since August 2020 on Monday, with $1.6 billion of fresh capital. 
By the week&#8217;s end, ETF pulled in $1.53 billion overall, eyeing the strongest weekly inflow in nearly five years.
<h1 class="wp-block-heading">Sector Fund Flows: Winners and Losers</h1>
<ul>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) gathered $124 million, poised for its third consecutive week of inflows.</li>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) attracted $7 million in new capital, halting a two-week streak of outflows.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) extended its painful trend, losing $717 million, marking the sixth consecutive week of outflows.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) saw an $84 million influx, posting its second straight week of gains.</li>
<li>The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) experienced significant outflows totaling $666 million.</li>
<li>The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) registered $40 million in outflows.</li>
<li>The Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) attracted $140 million in fresh money.</li>
<li>The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) gained $52 million in inflows.</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) saw $62 million in inflows, reflecting growing interest in defensive sectors.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) managed to secure $105 million in inflows despite broader tech weakness.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) posted $230 million in new investments, marking its second straight week of inflows, as investors seek safety in traditionally defensive sectors.</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/45007990/stay-big-sell-rips-hartnett-doubts-bull-market-without-3-key-catalysts">&#8216;Stay BIG, Sell Rips&#8217;: Hartnett Doubts Bull Market Without 3 Key Catalysts</a></li>
</ul>
Photo: Drozd Irina via Shutterstock

Equities

Large Cap

SPDR Dow Jones Industrial Average ETF Trust

MAGS

XLRE

Select Sector SPDR-Consumer Discretionary

QQQ ETF Faces Worst Week Of Outflows Since November As Investors Sell The Tech Rally

As Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) remains in the AI spotlight, Advanced Micro Devices Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) lesser valuation and increasing investor attention are making waves, particularly among smart-beta and <a href="https://www.benzinga.com/etfs">innovation-oriented funds</a>.
Here are three non-leveraged ETFs that include AMD:
<ul>
<li>ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>): Cathie Wood&#8216;s actively managed fund is doubling down on AMD, with <a href="https://www.benzinga.com/25/04/44969765/cathie-wood-buys-more-nvidia-and-amd-stock-as-chinese-tech-giants-stockpile-chips-amid-looming-us-export-curbs">consecutive buys of more than $2.3 million this week</a>. The fund price has returned 33% of value on the past year.</li>
</ul>
<ul>
<li>iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>): With high concentration in chipmakers, SOXX is still holding a strong AMD allocation, wagering on secular growth in computing and AI infrastructure over the long term. The fund has had a price erosion of about 13% in the past year, but this fund might be a good long-term play: if you look at the price returns over the past 5 years, it is more than 139%.</li>
</ul>
<ul>
<li>VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>): Another semiconductor ETF heavyweight, SMH has regularly had AMD as one of its top holdings, a testament to faith in the company&#8217;s capability to compete on price and performance. The past year has seen relatively flat prices.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44854262/chipwrecked-nvidias-export-ban-triggers-etf-meltdown-and-one-big-winner">Chipwrecked: Nvidia&#8217;s Export Ban Triggers ETF Meltdown (And One Big Winner)</a>
Since Nivida continues to trade in excess of 20 times last year&#8217;s revenues, <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/04/45006075/sentiment-fissures-in-the-semiconductor-space-put-spotlight-on-direxions-amd-focused-bull-and-bear-funds">AMD&#8217;s more modest 6x revenue multiple </a>makes a relatively convincing case for portfolio diversification. It ain&#8217;t cheap-cheap, but in the chip business today, it&#8217;s almost torture to pass up.
Supporting the case for AMD is a bullish trend in the options market. On Thursday, Benzinga&#8217;s <a href="https://www.benzinga.com/insights/options/25/04/44990727/spotlight-on-advanced-micro-devices-analyzing-the-surge-in-options-activity">options scanner</a> caught a string of long-expiry call options on AMD — the traditional game played by institutions as a play for medium- to long-term conviction. 
Debit trades in this fashion don&#8217;t pay until and unless the stock reaches targets by expiration time, implying the speculators are not only positive but willing to put actual capital on it.
But optimism is asterisked. The U.S. government&#8217;s restrictions on AI chip exports to China, a key market, have placed a policy-induced cloud over the entire <a href="https://www.benzinga.com/topic/semiconductors">semiconductor industry</a>. 
Although former President Donald Trump has suggested a more relaxed approach, negotiations are tenuous. For AMD, that translates to surfing waves of hope and uncertainty in equal proportions.
But that hasn&#8217;t deterred contrarians or ETFs such as ARKQ from increasing their exposure. It is apparent now that AMD might not be the loudest name in the chip game, but it&#8217;s turning out to be one of the cleverest bets — and ETFs are taking notice.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/45014143/guidance-grounded-airline-stocks-shaky-as-carriers-bail-on-forecasts-etfs-enter-turbulence-zone">Airline Stocks Hit Headwinds As Carriers Cut Guidance, ETFs Enter Turbulence</a></li>
</ul>
Image: Shutterstock

ARKQ

Forget Nvidia, ETFs Are Quietly Piling Into AMD — Do They Know Something We Don't?

Marvell Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) shares closed Thursday up 6.62% to $57.33, riding the broader rally in technology and semiconductor stocks fueled by strong economic data and easing trade tensions.
What To Know: The surge follows March's robust <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44979310/durable-goods-orders-jump-9-2-in-march-but-one-category-tells-the-real-story">9.2% jump</a> in U.S. durable goods orders, the largest since July 2024, which bolstered investor confidence in industrial demand, particularly for capital goods. 
Though the computers and electronic products category — relevant to Marvell — saw a slight decline, the sector overall benefited from optimism tied to defense and non-defense capital equipment orders.
Additionally, improving sentiment around <a href="https://www.benzinga.com/25/04/44988897/china-trade-war-4-big-brand-stocks-that-will-suffer-most">U.S.-China trade relations</a>, with the White House exploring exemptions for Chinese auto parts, reduced geopolitical uncertainty that had previously pressured chipmakers. Tech stocks, especially semiconductors, outperformed the broader market, supported by bullish earnings in the sector.
Marvell, known for its data infrastructure semiconductor solutions — including chips for cloud, 5G and automotive applications — benefits from investor rotation into high-growth, AI-driven hardware names.
The Nasdaq 100's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44988781/wall-street-rally-extends-into-third-day-whats-driving-markets-thursday">2.5% midday rally</a> also helped amplify Marvell&#8217;s upward momentum.
Read Also: <a href="https://www.benzinga.com/25/04/44985682/apples-ai-delays-rising-cost-pressures-trigger-price-target-cut-from-bank-of-america">Apple AI Delays, Rising Cost Pressures Trigger Price Target Cut From Bank Of America</a>
<h1 class="wp-block-heading">How To Buy Marvell Stock</h1>
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, for Marvell Technology, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
Investors can gain exposure to&nbsp;Marvell by&nbsp;investing&nbsp;in the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>)
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, Marvell has a 52-week high of $127.48 and a 52-week low of $47.09.
Read Also: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44988897/china-trade-war-4-big-brand-stocks-that-will-suffer-most">China Trade War: 4 Big-Brand Stocks That Will Suffer Most</a></li>
</ul>
Photo: JHVEPhoto via Shutterstock

News

What's Going On With Marvell Technology (MRVL) Stock?

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Shares of chip and semiconductor companies are trading higher amid overall market strength after President Trump said he had no intention of firing Fed Chair Powell. Additionally, Trump indicated the final tariff rate would be less than the current 145% but not 0%. A reduction in tariffs could reduce trade and supply chain uncertainty, which have weighed on the sector this year.

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Shares of tech stocks are trading higher after Treasury Secretary Scott Bessent reportedly said he expects de-escalation with China. A de-escalation with China could alleviate trade and supply chain uncertainty in the sector.

Activist <a href="https://www.benzinga.com/topic/dan-loeb" target="_blank" rel="noreferrer noopener">investor </a><a href="https://www.benzinga.com/topic/dan-loeb" target="_blank" rel="noreferrer noopener">Dan Loeb</a>‘s Third Point LLC held 1.78 million shares in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) <a href="https://www.benzinga.com/news/large-cap/25/01/43195763/dan-loebs-third-point-capitalizes-on-tsms-ai-expansion" target="_blank" rel="noreferrer noopener">as of December 2024</a>.
The chip manufacturer&#8217;s share price dipped nearly 27 year to date. Compared that to VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>), which fell over 23%, and the S&amp;P 500's year-to-date decline of roughly 12.1%.
Earnings &amp; Other Notable Events:
<ul>
<li>On April 17, Taiwan Semiconductor reported first-quarter net sales of $25.53 billion (839.25 billion New Taiwanese Dollars). That&#8217;s up 41.6% year-over-year (Y/Y), topping the<a href="https://www.benzinga.com/25/04/44857887/taiwan-semiconductor-q1-surges-41-in-sales-boosted-by-ai-chip-demand-expanded-margins" target="_blank" rel="noreferrer noopener"> analyst consensus estimate of $23.92 billion</a>.</li>
<li>The demand for advanced&nbsp;processor node technologies for artificial intelligence applications fueled the result.</li>
<li>Taiwan Semiconductor&nbsp;guided for second-quarter&nbsp;2025 revenue of $28.4 billion to $29.2 billion versus the $26.79<a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">&nbsp;billion analyst estimate</a>. It expects a gross margin of 57% to 59% and operating profit margins of 47% to 49%.</li>
<li>Taiwan Semiconductor&#8217;s CFO said, so far, there has been no noticeable shift <a href="https://www.benzinga.com/markets/25/04/44881525/tsmc-confident-amid-trump-tariff-turmoil-ceo-cc-wei-says-no-change-in-customer-behavior-despite-nvidia-h20-chip-curbs" target="_blank" rel="noreferrer noopener">in customer behavior in response</a> to U.S. tariffs.</li>
<li>Notably, China's new rule reportedly&nbsp;exempts chips designed&nbsp;by U.S. companies but manufactured in Taiwan from its 125% retaliatory tariffs. This rule has also exempted TSMC.</li>
<li>Also, the company disclosed in its 2024 annual report that the&nbsp;U.S. semiconductor technology&nbsp;embargo challenged its ability to ensure <a href="https://www.benzinga.com/government/regulations/25/04/44895326/taiwan-semiconductor-confronts-challenges-of-us-chips-sanction-on-china" target="_blank" rel="noreferrer noopener">complete compliance with the rules</a>.</li>
<li>Goldman Sachs&nbsp;analyst&nbsp;Kinger Lau, CFA, said delisting fears for Chinese American Depositary Receipts (ADRs) are rising again, driven by escalating trade tensions and new policy guidance from U.S. officials, including President&nbsp;Donald Trump‘s America First Investment Policy and Treasury Secretary&nbsp;Scott Bessent&#8216;s statement that &#8220;everything is on the table&#8221; <a href="https://www.benzinga.com/government/regulations/25/04/44868280/us-listed-chinese-stocks-face-250-billion-forced-selling-risk-as-delisting-fears-emerge-what-investors-need-to-know" target="_blank" rel="noreferrer noopener">in the response to China&#8217;s retaliatory tariffs</a>.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44698171/trumps-tariff-push-sends-financials-lower-loebs-portfolio-take-a-hit" target="_blank" rel="noreferrer noopener">Tariffs Test Loeb's Financial Picks: Third Point Adjusts Bets As Markets Brace For Economic Blowback</a></li>
</ul>
Image: Shutterstock

Dan Loeb's Bet On Taiwan Semiconductor Looks Strong As Q1 Results Top Expectations

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Shares of semiconductor companies are trading lower after Huawei announced it's preparing AI chips as an alternative to Nvidia. Additionally, trade restrictions and tariff concerns are weighing on stocks in the industry.

Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares are trading lower by 12.6% to $84.87 over the trailing week. Investors are weighing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44868970/nvidia-amd-take-a-17-billion-hit-in-the-ai-arms-race-while-broadcom-remains-shielded-says-analyst">new U.S. government restrictions</a> on AI chip exports to China and several other regions. 
The restrictions have elevated concerns about the company&#8217;s exposure to geopolitical risk and supply chain disruptions in key international markets.
What To Know: The latest measures from the U.S. government—expanding upon the Biden administration's ongoing strategy to limit China's access to advanced AI hardware—now require AMD to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44868970/nvidia-amd-take-a-17-billion-hit-in-the-ai-arms-race-while-broadcom-remains-shielded-says-analyst">obtain licenses</a> to sell its MI308 data center GPUs in China, Hong Kong, Macau and countries listed under the Department of Commerce&#8217;s <a href="https://www.benzinga.com/news/25/04/44876468/whats-going-on-with-amd-stock-14">&#8220;D:5&#8221; designation</a>, which includes nations of national security concern.
Read Also: <a href="https://www.benzinga.com/25/04/44861917/broadcom-marvell-synopsys-the-chips-that-might-not-crumble-in-the-coming-storm">Broadcom, Marvell, Synopsys: The Chips That Might Not Crumble In The Coming Storm</a>
The MI308 is AMD's <a href="https://www.benzinga.com/government/regulations/25/04/44844097/amd-flags-800-million-risk-from-new-us-chip-export-rules-as-china-tariffs-add-pressure">most advanced data center GPU</a> to date, designed for training and inferencing large AI models. It directly competes with NVIDIA Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100 in high-performance computing applications and forms a crucial pillar of AMD's push into AI infrastructure markets.
The licensing requirements now create an additional bottleneck for AMD in a region that had been a significant source of demand for its AI accelerators.
Financial Fallout: In anticipation of a sharp decline in sales to China, AMD has taken a one-time <a href="https://www.benzinga.com/government/regulations/25/04/44844097/amd-flags-800-million-risk-from-new-us-chip-export-rules-as-china-tariffs-add-pressure">inventory charge of $800 million</a> related to unsold or redirected chips and expects a $1.5 billion to $1.8 billion hit to revenue—equivalent to roughly 10% of its projected 2025 data center business.
This comes at a critical moment for AMD, as it has aggressively ramped up its AI ambitions through investments in hardware, <a href="https://www.benzinga.com/analyst-ratings/price-target/25/02/43788975/amd-closing-competitive-gpu-gap-with-nvidia-gains-market-share-from-intel-in-client-and-server-markets-analyst">software stacks like ROCm</a> and ecosystem partnerships.
Broader Implications: The export restrictions are part of a broader U.S. effort to curtail China&#8217;s access to cutting-edge AI hardware amid growing national security tensions. 
While demand for AI infrastructure in China remains robust, analysts expect an accelerated pivot toward domestically developed solutions, such as <a href="https://www.benzinga.com/25/02/43945751/huawei-boosts-ai-chip-production-despite-taiwan-semi-and-asml-ban-aims-to-challenge-nvidia-in-china">Huawei's Ascend AI chips</a>.
This shift could undercut AMD&#8217;s long-term positioning in one of the world&#8217;s largest tech markets. Unlike NVIDIA, which benefits from <a href="https://www.benzinga.com/insights/news/25/04/44842135/understanding-nvidias-position-in-semiconductors-amp-semiconductor-equipment-industry-compared-to-c">stronger software ecosystems (CUDA)</a> and more diverse hardware offerings, AMD is still in the earlier stages of building out a comprehensive AI platform.
Custom silicon developers and hyperscalers designing in-house chips <a href="https://www.benzinga.com/25/04/44861917/broadcom-marvell-synopsys-the-chips-that-might-not-crumble-in-the-coming-storm">remain unaffected by the new rules</a>—giving them a strategic edge over traditional chipmakers like AMD, whose offerings are subject to export controls.
Read Also: <a href="https://www.benzinga.com/government/regulations/25/04/44896834/dollar-hits-3-year-lows-us-stocks-tumble-as-trump-threatens-to-fire-powell-contrarians-of-the-world-unite">Dollar Hits 3-Year Lows, US Stocks Tumble As Trump Threatens To Fire Powell: &#8216;Contrarians Of The World, Unite!&#8217;</a>
Investors can gain exposure to&nbsp;AMD by&nbsp;investing&nbsp;in the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>).
<h2 class="wp-block-heading">How To Buy AMD Stock</h2>
By now you're likely curious about how to participate in the market for Advanced Micro Devices &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of Advanced Micro Devices, which is trading at $85.34 as of publishing time, $100 would buy you 1.17 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, AMD has a 52-week high of $187.28 and a 52-week low of $76.48.

AMD Stock Drops Amid AI Chip Export Ban: What's Going On?

The Blue Whale Growth fund, backed by the billionaire Peter Hargreaves, has sold its entire stake in Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) amid fears of a global economic slowdown.
What Happened: The decision to exit Meta and Microsoft was announced by the fund&#8217;s manager, Stephen Yiu, following U.S. President Donald Trump&#8216;s announcement of broad tariffs on April 2, <a href="https://www.ft.com/content/4049c101-65f4-4cf5-a045-78b3b7e67131">reported</a> the Financial Times.
Yiu expressed concerns that these tariffs could potentially trigger a global economic slowdown, which would negatively impact Meta&#8217;s digital advertising business. He stated, &#8220;When you have a global business in digital advertising and a global slowdown and economic uncertainty, then it does impact the top line [revenues].&#8221;
The Blue Whale Growth fund, managing £1.1 billion ($1.46 billion), has massive holdings in technology stocks, accounting for nearly 40% of the portfolio. Meta&#8217;s holding represented about 3% of this.
Yiu also revealed that the fund has been buying shares of U.S. chip designer&nbsp;Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), raising the stock&#8217;s share of the overall fund from 7% at the end of last year to 10%, in order to take advantage of a lower share price.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/04/44881570/trump-administration-to-lay-off-nearly-90-of-cfpb-employees-in-major-downsizing-report" target="_blank" rel="noreferrer noopener">Trump Administration To Lay Off Nearly 90% Of CFPB Employees In Major Downsizing: Report</a>
Why It Matters:&nbsp;The Blue Whale Growth fund, started in 2017 by Hargreaves, co-founder of Hargreaves Lansdown, holds around £200 million ($265.31 million) from his family. Since Trump&#8217;s tariff announcement, Hargreaves Lansdown has reported that its customers have continued to be net buyers of the Magnificent Seven stocks, which represent nearly a third of the S&amp;P 500 by market capitalization.
In early April, UK retail investment platforms Interactive Investor and AJ Bell experienced a surge in trading volumes. Interactive Investor reached its highest-ever trading volumes on April 7, with Nvidia and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) being popular picks. AJ Bell noted an increase in purchases of the Polar Capital Technology Trust, which includes tech giants like Nvidia, Meta, Microsoft, and Apple, highlighting growing interest in tech stocks.
After President Donald Trump announced sweeping tariffs<a href="https://www.benzinga.com/topic/liberation-day"> on April 2</a>, the U.S. technology sector has been particularly impacted. Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) dropped 16.86% year-to-date, while VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) lost 21.5% during the same period.
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44877231/ethereum-price-plunges-to-2018-levels-what-is-going-on" target="_blank" rel="noreferrer noopener">Ethereum Price Plunges To 2018 Levels: What Is Going On? &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Markets

Billionaire Peter Hargreaves-Backed Fund Offloads Stake In Meta, Microsoft Amid Global Economic Woes

President Donald Trump established a new body within the Commerce Department to manage the CHIPS and Science Act of 2022, benefiting <a href="https://www.benzinga.com/25/04/44584283/trump-sets-up-investment-accelerator-for-chips-act-management-heres-a-list-of-beneficiaries-that-could-be-impacted" target="_blank" rel="noreferrer noopener">companies like </a>Taiwan Semiconductor Manufacturing Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
Here's a look at some of hedge fund manager Dan Loeb&#8216;s semiconductor and electrical stocks year-to-date:
<ul>
<li>NET Power Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NPWR#NYSE">NPWR</a>) shares dropped 79.89%; its peer, Bloom Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>), saw a decline of 24.71% YTD. As of the fourth quarter <a href="https://www.sec.gov/Archives/edgar/data/1040273/000108514625001713/xslForm13F_X02/infotable.xml" target="_blank" rel="noreferrer noopener">of </a>2024, the investor retained a stake of 500,000 shares (same as <a href="https://www.sec.gov/Archives/edgar/data/1040273/000108514624005927/xslForm13F_X02/infotable.xml" target="_blank" rel="noreferrer noopener">in </a>the third quarter of 2024).</li>
<li>Taiwan Semiconductor stock tumbled 24.58% versus VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) decline of 19.44% YTD. Third Point held 1.78 million shares in the contract <a href="https://www.benzinga.com/news/large-cap/25/01/43195763/dan-loebs-third-point-capitalizes-on-tsms-ai-expansion" target="_blank" rel="noreferrer noopener">chipmaker as of December 2024</a>.</li>
</ul>
Separately, the Trump administration excluded a range of technology products, including consumer electronics, <a href="https://www.benzinga.com/government/regulations/25/04/44786708/why-are-semiconductor-stocks-trading-higher-on-monday" target="_blank" rel="noreferrer noopener">from the 145% reciprocal tariffs bucket</a>.
Still, the tariff dispute between the U.S. and China is getting worse. A White House fact sheet has revealed that the Trump administration raised tariffs <a href="https://www.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle" target="_blank" rel="noreferrer noopener">on Chinese imports</a> by up to 245% &#8220;as a <a href="https://www.benzinga.com/25/04/44831422/donald-trumps-145-tariffs-on-china-could-disrupt-teslas-cybercab-semi-production-report" target="_blank" rel="noreferrer noopener">result of its retaliatory actions.</a>"
The White House argues that tariffs on critical minerals and their derivative products were levied to protect the U.S. defense capabilities, infrastructure development, and technological innovation.
Mineral stocks in Loeb&#8217;s portfolio are also on the downtrend:
<ul>
<li>Carpenter Technology Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>) shares fell 2.93% compared to Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYZ#NASDAQ">PYZ</a>), which dipped 8.53% YTD. As of the fourth quarter&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1040273/000108514625001713/xslForm13F_X02/infotable.xml" target="_blank" rel="noreferrer noopener">of&nbsp;</a>2024, the investor held a stake of 870,000 shares, up from 660,000 shares as of the third quarter of 2024.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44698171/trumps-tariff-push-sends-financials-lower-loebs-portfolio-take-a-hit" target="_blank" rel="noreferrer noopener">Tariffs Test Loeb&#8217;s Financial Picks: Third Point Adjusts Bets As Markets Brace For Economic Blowback</a></li>
</ul>
Image: Shutterstock

Mid Cap

NPWR

PowerShares Dynamic Basic Materials Sector Portfolio

Trump Tariffs Roil Semiconductor, Mineral Stocks: Billionaire Dan Loeb's Portfolio Faces Grueling Test

Chip stocks are sliding Wednesday after NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announced that the U.S. government will start requiring a license to <a href="https://www.benzinga.com/news/global/25/04/44828742/nvidia-stock-is-tumbling-after-hours-heres-why">export chips to China</a>. 
What Happened: In a regulatory filing late Tuesday, Nvidia said the U.S. government contacted the company on April 9, informing the chipmaker that it will need a license to sell H20 chips to China.
The filing also states that a license will be required for any other circuits achieving the H20&#8217;s memory bandwidth, interconnect bandwidth, or a combination thereof.
Nvidia shares tumbled on the news, dragging down several other chip stocks with it. The VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) was down about 3.75% at the time of writing Wednesday morning, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Here&#8217;s a look at some of the semiconductor names moving lower on Wednesday:
<ul>
<li>Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
</ul>
<ul>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>)</li>
</ul>
<ul>
<li>Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)</li>
</ul>
<ul>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</li>
</ul>
<ul>
<li>QUALCOMM Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
</ul>
<ul>
<li>Applied Materials Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>)</li>
</ul>
<ul>
<li>Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</li>
</ul>
<ul>
<li>Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>)</li>
</ul>
The license requirement will be in effect for the indefinite future in an effort to address risks associated with the potential for China to use the products for a supercomputer. 
As a result of the restrictions, Nvidia said it expects its first-quarter financial results to include up to $5.5 billion of charges associated with H20 products held in inventory. 
AMD also said in a filing Wednesday morning that the new export controls on chips could result in charges of up to approximately $800 million related to inventory and purchase commitments. 
ASML, the largest supplier of chipmaking equipment, reported <a href="https://www.benzinga.com/25/04/44833646/from-parts-to-profits-tariffs-have-a-4x-hit-on-asmls-bottom-line-says-cfo">first-quarter results</a> before the market open on Wednesday. The company warned that tariffs have increased uncertainty surrounding the company&#8217;s outlook, which may be adding to the weakness across the board. 
&#8220;Our conversations so far with customers support our expectation that 2025 and 2026 will be growth years. However, the recent tariff announcements have increased uncertainty in the macro environment and the situation will remain dynamic for a while,&#8221; ASML CEO Christophe Fouquet said.
BofA Securities <a href="https://www.benzinga.com/analyst-stock-ratings">cut price targets</a> on several semiconductor names Wednesday morning due to potential impacts of tariffs. 
The new chip license requirement is the latest in an intensifying <a href="https://www.benzinga.com/markets/25/04/44806095/as-xi-jinping-urges-vietnam-to-stand-against-unilateral-bullying-trump-labels-the-meeting-a-plan-to-screw-the-united-states-of-america" target="_blank" rel="noreferrer noopener">trade war with China</a>. The Trump administration paused reciprocal tariffs for most countries last week, but ramped up tariffs on China. China responded with 125% retaliatory tariffs on American goods over the weekend.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44830391/us-stock-futures-nikkei-slip-amid-fresh-nvidia-headwinds-dollar-continues-to-lose-steam">US Stock Futures, Nikkei Slip Amid Fresh Nvidia Headwinds: Dollar Continues To Lose Steam</a></li>
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Photo: <a href="https://www.shutterstock.com/g/yakobchuk">AKOBCHUK V</a>/Shutterstock.

Global

Movers

Chip Stocks Are Facing Selling Pressure Wednesday: Here's Why

<a href="https://www.benzinga.com/etfs">Semiconductor ETFs </a>are attracting investor attention this week as the industry finds itself at the focal point of global trade tensions. U.S. President Donald Trump is poised to announce new tariff levels on foreign semiconductors within days, a move that could remake supply chains and spook markets already nervous following recent trade volatility.
While the White House considers the shape of the <a href="https://www.benzinga.com/topic/semiconductors">future chip industry</a>, investors are focusing on ETFs with heavy exposure to chipmakers. Whether tariffs fuel more market volatility or offer a buying opportunity largely depends on how the policy plays out over the next few weeks.
Also Read: <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44724362/chip-stocks-surge-as-trump-pauses-tariffs-for-us-allies-targets-china-with-125-duties">Chip Stocks Surge As Trump Pauses Tariffs For US Allies, Targets China With 125% Duties</a>
3 Semiconductor ETFs To Watch Amid Tariff Headlines
iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)
One of the sector&#8217;s most liquid and best-followed funds, SOXX provides exposure to U.S.-listed behemoths such as Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), and Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>). As it is based on global manufacturing and cross-border supply chains, SOXX may be vulnerable to import tariffs and higher component prices.
VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>)
SMH is distinguished by its international makeup, featuring giants such as Taiwan Semiconductor Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and ASML Holding&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>). Taiwan&#8217;s tariff talks with the U.S. will be important here, particularly if the island achieves exemptions that may protect SMH&#8217;s non-U.S. holdings from policy jolts.
SPDR S&amp;P Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>)
An equally weighted ETF, XSD leans slightly more toward small and mid-cap chipmakers such as ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) and some large-cap ones like Texas Instruments Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>). It may provide a hedge against large-cap concentration risk if giants like Nvidia or TSMC are subject to tariff pressure.
The Policy Backdrop: Tariffs, Taiwan And Tech
Trump&#8217;s planned action is part of a larger national security investigation into the electronics supply chain, unveiled over the weekend. Whereas smartphones and laptops had previously been spared recent retaliatory tariffs on China, officials now indicate that advanced technology products—such as semiconductors, personal electronics, and medicines—will soon bear standalone duties, as reported by Reuters.
On Sunday, Trump said that the White House wants to simplify the chip market from many other companies and aims to produce chips in the U.S., adding that some companies might be allowed flexibility in implementation. He said new tariff levels on foreign semiconductors will be announced this week.
Commerce Secretary Howard Lutnick confirmed that a &#8220;special focus-type of tariff&#8221; on fundamental tech imports will be introduced over the next two months. The standalone regime would operate in parallel to reciprocal tariffs, which, according to Reuters, rose to 125% on Chinese imports last week.
The uncertainty has unsettled markets. The S&amp;P 500 has fallen over 10% since Trump&#8217;s Jan. 20 inauguration, and the chip sector has experienced some of the deepest intraday plunges in months.
Simultaneously, Taiwan, which plays a vital role in the world chip community, has been positively negotiating with Washington to avoid getting engulfed in the tariff wave. President Lai Ching-te affirmed that the initial dialogue has been &#8220;smooth,&#8221; and Taipei is looking to turn the crisis into a silver lining as far as deep trade integration with Washington is concerned, as per another Reuters report. TSMC&#8217;s latest promise of further investing $100 billion in America complements such a strategy.
While the world holds its breath for what Trump will do next, investors in semiconductor ETFs are keeping a close watch. Whether the result produces tariff clarity or more turbulence, the industry is at the crossroads of geopolitics, policy and market performance.
Next Up: 
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/44795549/etfs-last-week-wall-street-whipsaws-dollar-under-siege-yet-these-5-funds-won">ETFs Last Week: Wall Street Whipsaws, Dollar Under Siege, Yet These 5 Funds Won</a></li>
</ul>
Photo: Shutterstock

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