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The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target.The Index is constructed and maintained by S&P Dow Jones Indices LLC. The Index is designed to measure the stock performance of U.S. companies in the semiconductors subsector. Component companies include, among others, those engaged in the production and distribution of semiconductors and other integrated chips, as well as other related products such as semiconductor capital equipment and motherboards.

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Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is all set for <a target="_blank" href="https://www.benzinga.com/topic/tsmc" rel="noreferrer noopener">full-capacity production</a> in the U.S. and Germany after commercializing its debut Japanese chip plant in Kikuyo, Kumamoto Prefecture, last December.
Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) $3 trillion valuation and Taiwan Semiconductor&#8217;s 2nm progress testify to <a target="_blank" href="https://www.benzinga.com/25/01/42813592/ai-chip-stocks-nvidia-broadcom-amd-taiwan-semi-micron-super-micro-surge-on-monday-whats-going-on" rel="noreferrer noopener">AI-driven chip industry growth</a>. Reportedly, Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) eyes&nbsp;$80 billion in&nbsp;developing AI data centers in fiscal 2025, marking a big win for the sector.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42721526/taiwan-semiconductors-kaohsiung-expansion-to-boost-jobs-and-2-nm-chip-production" rel="noreferrer noopener">Taiwan Semiconductor&#8217;s Kaohsiung Expansion To Boost 2-nm Chip Production</a>
The contract chipmaker aims to complete production of plants in Arizona in 2025 and Dresden in 2027. Construction of Taiwan Semiconductor&#8217;s second Japanese factory will likely begin near the Kikuyo plant, the Japan News <a target="_blank" href="https://japannews.yomiuri.co.jp/business/companies/20250106-231710/" rel="noreferrer noopener">reports</a>.
Taiwan commanded 67% of the global market share in contracted semiconductor manufacturing and nearly 80% in cutting-edge products in 2023, the Japan News cites TrendForce.
Taiwan attempted to shield itself from geopolitical tension by concentrating production on the island. Still, it also remains focused on its geographical diversification to help the world boost its semiconductor base by reducing its dependence on China, whose semiconductor supply chain was disrupted during the 2020 pandemic.
Kumamoto Gov. Takashi Kimura shared with Japan Times the country&#8217;s hopes to attract Taiwan Semiconductor&#8217;s third plant in the prefecture.
The new plant, located in Kikuyo, began commercializing 12-28 nm technology last December. It caters to Sony Group Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>), which produces camera sensors for Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
Taiwan Semiconductor is proficient in making general-purpose chips between 12 and 28 nm. However, chip plants in Japan failed to produce semiconductors thinner than 40 nm, prompting them to tap the Taiwanese chipmaker.
Taiwan Semiconductor is building a new plant in Arizona, where commercialization of 4-nm chips will likely begin between January and March. It aims to complete its debut European plant in Dresden in 2027. The plant targets a quadrupolar production plan with principal plants in Taiwan, Japan, the U.S., and Germany.
Meanwhile, some concerns loom in the form of President-elect Donald Trump taking charge on January 20.
The U.S. posted a significant trade deficit with Taiwan in 2023, prompting Trump to verbally attack the country during his presidential campaigns for allegedly depriving the U.S. of the semiconductor industry.
He suggested redemption by slapping tariffs on Taiwan, which can increase the contract chipmaker&#8217;s production costs since labor costs in the U.S. are about 30% higher than in Taiwan.
Taiwan Semiconductor stock surged over 115% in the last 12 months.
Goldman Sachs&#8216; Bruce Lu projected <a target="_blank" href="https://www.benzinga.com/25/01/42825523/taiwan-semi-likely-for-upside-backed-by-ai-demand-and-advanced-node-pricing-analyst-says" rel="noreferrer noopener">another year of </a>robust revenue growth for Taiwan Semiconductor in 2025E, 26.8%, following 29.4% revenue growth in 2024E (all in USD terms). Demand in leading-edge nodes, mainly supported by AI, backed this growth.
Investors can gain exposure to companies that manufacture semiconductors through ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>) and ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSD#NYSE">XSD</a>).
Price Action: TSM stock is up 0.08% to $220.19 premarket at last check Tuesday.
Also Read:
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Taiwan Semiconductor Ramps Up Production in Japan, US, and Germany to Diversify Away from China

Semiconductor, hardware, and artificial intelligence-linked stocks led by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are down as the sector continues to pull back.
AI stocks led by Nvidia, Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) selloff continue their <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40746353/nvidia-super-micro-arm-tumble-2-in-premarket-most-chip-peers-deep-in-red-whats-dragging-down-sem" rel="noreferrer noopener">downward price trajectory</a> as the Nvidia and Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) quarterly prints failed to impress the Street.
Broadcom released its third-quarter earnings on Thursday. The <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40741225/broadcom-q3-earnings-revenue-beat-eps-beat-continued-strength-in-ai-solutions-and-vmware-2024-ai-gu" rel="noreferrer noopener">topline grew 42%</a> to &nbsp;$13.07 billion in the third quarter, topping the analyst estimate of $12.96 billion. The chipmaker expects fourth-quarter revenue of $14 billion, above the analyst consensus of $12.70 billion. The <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40740457/broadcom-inc-announces-third-quarter-fiscal-year-2024-financial-results-and-quarterly-dividend" rel="noreferrer noopener">adjusted gross margin</a> grew by 110 bps sequentially and 230 bps year-on-year to 77.4%.
JPMorgan analyst Harlan Sur projected upside, citing robust AI growth, VMware momentum, and recovery in <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40750949/broadcom-analysts-lifts-ai-revenue-forecast-to-12b-on-potential-strong-demand-from-" rel="noreferrer noopener">traditional semiconductor sectors</a>.
Last week, Nvidia&#8217;s <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40613050/nvidia-q2-earnings-guidance-top-street-view-as-ai-fuels-record-data-center-revenue-gross-margin-fal" rel="noreferrer noopener">second-quarter topline</a> grew 122% to $30.04 billion, surpassing the analyst estimate of $28.68 billion. It expects third-quarter revenue of $31.85 billion-$33.15 billion versus the analyst consensus of $31.77 billion. The adjusted gross margin declined 320 bps sequentially and grew by 450 bps year-on-year.
BofA Securities analyst Vivek Arya maintained a bullish outlook backed by data center and AI training demand and <a target="_blank" href="https://www.benzinga.com/news/24/09/40737481/nvidias-future-tied-to-llms-and-gaming-despite-ai-capex-skepticism-remains-a-sector-favorite-analyst" rel="noreferrer noopener">supply chain recovery</a>.
VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>), which tracks the overall performance of the 25 largest U.S.-listed companies that produce semiconductors, including Nvidia, Taiwan Semiconductor, Broadcom, and AMD, has been down 12% in the last five days. iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) fell 12% in the previous five days.
Nvidia has been down 15% in the last five days. AMD lost over 10%, and Taiwan Semiconductor lost 8%. The selloff refused to subside despite assurances from <a target="_blank" href="https://www.benzinga.com/news/24/09/40735058/taiwan-semis-supplier-dismisses-selloff-projects-strong-ai-growth-surge" rel="noreferrer noopener">contract chipmakers like</a> Taiwan Semiconductor and Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) regarding sustained AI demand.
ProShares Ultra Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>), which corresponds to two times (2x) the daily performance of the Dow Jones U.S. Semiconductors&nbsp;Index, lost 26% in the last five days.
ETFs with exposure to riskier indexes noted volatility during the period. ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>), which corresponds to two times the inverse (-2x) of the daily performance of the Dow Jones U.S. Semiconductors Index, gained 28% in the last five days.
The ETFs tracking broader indexes like the S&amp;P 500 and NASDAQ saw relatively lesser value losses due to Big Tech stocks like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 stock market index, including Big Tech stocks, lost 3.5% in the last five days. Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks the NASDAQ index, lost 5% in the last five days.
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Semiconductor ETFs Take A Beating, Dragged Lower By Nvidia, AMD, and Broadcom Stocks

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) disclosed its plan to invest billions of dollars in Taiwan over the next 15 years. The investment aims to establish data centers, further expanding the company&#8217;s global footprint in Asia to meet the region&#8217;s increasing demand for cloud services.
What Happened: Amazon Web Services, the cloud computing arm of the Seattle-based tech giant, revealed on Tuesday its intention to launch an AWS infrastructure region in Taiwan by early 2025, <a href="https://www.wsj.com/tech/amazon-to-invest-billions-in-taiwan-cloud-infrastructure-2e6e935c?mod=latest_headlines">reported</a> The Wall Street Journal.
&#8220;The new infrastructure will enable organizations to unlock the full potential of the cloud and build with AWS technologies like compute, storage, databases, analytics, machine learning and artificial intelligence,&#8221; said Prasad Kalyanaraman, vice president of infrastructure services at AWS.
This investment in Taiwan follows AWS&#8217;s recent plans to spend $9 billion on expanding its cloud services in Singapore and a $15 billion investment in Japan to build cloud capacity.
Investors can gain exposure to the semiconductor sector via&nbsp;First Trust Nasdaq Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and&nbsp;ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>)
See Also: <a href="https://www.benzinga.com/markets/equities/24/06/39248555/nvidia-stock-poised-for-3rd-straight-down-day-whats-going-on-with-ai-stalwart?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Poised For 3rd Straight Down Day: What&#8217;s Going On With AI Stalwart</a>
Why It Matters: This move by Amazon comes at a time when the tech industry is witnessing a surge in cloud service demand. The company&#8217;s decision to expand its cloud infrastructure in Asia aligns with the region&#8217;s growing significance in the global tech landscape.
Earlier in the year, <a href="https://www.benzinga.com/news/24/04/38114840/rapid-aws-expansion-and-increased-cloud-spending-signals-strong-outlook-for-amazon-analyst">analysts predicted</a> a strong outlook for Amazon, citing an accelerated sales cycle and a significant shift in fiscal 2024 budgets towards infrastructure expenditure, hinting at a quicker migration to AWS. This investment in Taiwan further solidifies Amazon&#8217;s position in the cloud computing market.
However, the move also comes amid rising geopolitical tensions. The Taiwan-China conflict has been identified as a &#8220;common risk&#8221; for tech giants like Amazon, <a href="https://www.benzinga.com/news/24/02/37049135/china-taiwan-conflict-poses-common-risk-for-apple-amazon-tesla-and-other-magnificent-7-giants-jeremy">highlighting the potential</a> for a disruptive geopolitical event in China, which could impact access to crucial chip industries.
Amazon reported strong <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">first-quarter earnings</a>, including a 13% year-over-year increase in net sales, reaching $143.3 billion. 
Price Action: Amazon.com Inc closed at $187.23, marking a slight increase of 0.091% on Tuesday. After hours, the stock dipped 0.0053%. Overall, Amazon&#8217;s stock has seen a significant uptrend year to date, rising by 24.88%, according to data&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39249295/why-palantir-stock-is-falling-in-premarket-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Palantir Stock Is Falling In Premarket Today</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Amazon To Invest Billions In Taiwan Cloud Infrastructure, Expanding AWS Presence In Asia

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has significantly outperformed China&#8217;s largest chipmaker, Semiconductor Manufacturing International Corp (SMIC), this year, highlighting Beijing&#8217;s challenges in advancing its domestic chip industry.
Despite China&#8217;s substantial semiconductor investment fund, Big Fund III, aimed at boosting local industry, SMIC needs to work on technological advancements, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-10/tsmc-s-premium-over-smic-shows-challenges-for-china-s-chip-fund?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
China can produce 7-nanometer chips but aims to progress to 5nm amid U.S. export controls.
TSMC, however, uses advanced extreme ultraviolet lithography to manufacture 3nm chips, a capability not accessible to China due to these restrictions.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/06/39227871/nvidias-ai-chip-has-a-tough-competitor-from-china-huaweis-latest-ascend-910b" rel="noreferrer noopener">Nvidia&#8217;s AI Chip Has A Tough Competitor From China &#8211; Huawei&#8217;s Latest Ascend 910B</a>
Bloomberg Intelligence analyst Charles Shum noted that even if SMIC could produce 5nm chips, costs would be significantly higher without EUV equipment.
The gap is about more than just reaching technological levels; it is about achieving them cost-effectively.
<a target="_blank" href="https://www.benzinga.com/government/24/06/39181228/whats-going-on-with-taiwan-semiconductor-stock-on-wednesday" rel="noreferrer noopener">Recent reports indicated</a> that Chinese AI chip firms are downgrading designs to fulfill the U.S. sanctions, underscoring the importance of TSMC.
TSMC&#8217;s May sales grew by 30% to $7.1 billion, <a target="_blank" href="https://www.benzinga.com/news/24/06/39226348/taiwan-semi-rides-ai-wave-reports-7-1b-revenue-in-may" rel="noreferrer noopener">driven by the AI frenzy</a>. The key Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) supplier expects the AI to drive a sector-wide recovery in 2024.
SMIC&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/05/39010105/taiwan-semi-leads-while-chinas-smic-climbs-to-third-in-global-chip-market" rel="noreferrer noopener">market share climbed</a> to 6% in the first quarter, putting it in third place behind TSMC and Samsung Foundry, which held 62% and 13%, respectively.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/11040758/newplot-23.png" alt="" class="wp-image-381463" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/11040758/newplot-23.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/11040758/newplot-23-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Taiwan Semiconductor stock gained over 57% in the last 12 months. Investors can gain exposure to the semiconductor sector via First Trust Nasdaq Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>).
Price Action: TSM shares were trading lower by 1.00% to $166.47 premarket at the last check Tuesday.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39211505/broadcom-rises-as-top-ai-chip-supplier-after-nvidia-thanks-to-google-and-meta-partnerships-analyst" rel="noreferrer noopener">Broadcom Rises As Top AI Chip Supplier After Nvidia, Thanks To Google And Meta Partnerships: Analyst</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Ivan Marc via Shutterstock

Taiwan Semi Outperforms China's Top Chipmaker Amid Tech Challenges

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>) saw a 30% increase in May sales, reaching $229.6 billion New Taiwan dollars ($7.1 billion), due to high demand for AI and recovering consumer electronics. 
As the world&#8217;s largest contract chipmaker, TSMC produces semiconductors for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which supplies companies like Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and OpenAI, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-06-07/tsmc-s-may-sales-rise-30-as-countries-race-to-secure-ai-chips?srnd=technology-vp&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reports</a>. 
Additionally, global smartphone sales rebounded in early 2023, boosting mobile chip orders.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39211505/broadcom-rises-as-top-ai-chip-supplier-after-nvidia-thanks-to-google-and-meta-partnerships-analyst" rel="noreferrer noopener">Broadcom Rises As Top AI Chip Supplier After Nvidia, Thanks To Google And Meta Partnerships: Analyst</a>
TSMC maintains high margins, producing advanced AI accelerators for Nvidia and semiconductors for Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>). CEO C.C. Wei expects AI development to drive a sector-wide recovery in 2024. The company is eying a price hike to <a href="https://www.benzinga.com/news/24/06/39170072/nvidia-amd-chips-to-get-dearer-as-taiwan-semi-eyes-ai-chip-price-hike" target="_blank" rel="noreferrer noopener">tap its moat</a>.
For 2024, TSMC expects a <a href="https://www.benzinga.com/news/24/06/39202508/whats-going-on-with-taiwan-semiconductor-stock-on-thursday">10% annual growth</a> in the semiconductor industry, excluding memory chips.
Nvidia and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google have significantly boosted the number of generative AI unicorns, nearly doubling the count to 37 by the end of April. 
This 85% increase from the previous year reflects the tech giants&#8217; investments in promising startups, the Nikkei Asia <a href="https://asia.nikkei.com/Business/Technology/Nvidia-Google-funding-helps-double-AI-unicorns-to-37-in-a-year" target="_blank" rel="noreferrer noopener">reports</a>.
Nvidia has invested in seven of the new unicorns, including Canada&#8217;s Cohere, while Alphabet has backed four, such as video generation specialist Runway. 
The global landscape has also diversified, with ten of the 17 new unicorns based outside the U.S., including China&#8217;s 01.AI and France&#8217;s Mistral AI. Major tech companies are driving this trend, shifting focus from electric vehicles and fintech to AI, aiming to capture new technologies and talent for expanding their services.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/07034055/newplot-18.png" alt="" class="wp-image-376108" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/07034055/newplot-18.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/07034055/newplot-18-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
TSMC stock gained 62% in the last 12 months. Investors can gain exposure to the semiconductor sector via First Trust Nasdaq Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>).
Price Action: TSM shares were trading lower by 0.48% to $161.30 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Taiwan Semi Rides AI Wave, Reports $7.1B Revenue In May

On Thursday, Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) shares hit a record high due to the global AI frenzy.
Additionally, TSMC is in talks with ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) to acquire advanced lithography machines, <a target="_blank" href="https://www.benzinga.com/news/24/06/39185439/whats-going-on-with-taiwan-semi-supplier-asml-stock-on-wednesday" rel="noreferrer noopener">expected by year-end</a>.
Meanwhile, <a target="_blank" href="https://www.benzinga.com/government/24/06/39181228/whats-going-on-with-taiwan-semiconductor-stock-on-wednesday" rel="noreferrer noopener">Chinese AI chip firms</a> are designing less powerful processors to comply with U.S. sanctions, underscoring the importance of TSMC.
Recent reports indicated TSMC&#8217;s plans to raise the prices of its&nbsp;services.
TSMC also announced a buyback of 3.25 million shares and plans for a <a href="https://www.benzinga.com/news/24/06/39190595/tsmc-backed-vanguard-nxp-plan-on-building-7-8b-semiconductor-facility-in-singapore" target="_blank" rel="noreferrer noopener">$7.8 billion facility in</a> Singapore with Vanguard International Semiconductor and NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>).
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/06033354/newplot-14.png" alt="" class="wp-image-373888" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/06033354/newplot-14.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/06033354/newplot-14-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
TSMC&#8217;s surge followed Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock gains, which reached a record high, breaching Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) market cap. TSMC is a key technology supplier for Nvidia&#8217;s AI chips.
Nvidia looks to <a target="_blank" href="https://www.benzinga.com/news/24/06/39189567/whats-going-on-with-nvidia-stock-on-wednesday" rel="noreferrer noopener">boost its investments</a> in Taiwan, including constructing another supercomputer in Taiwan following the launch of Taipei-1 in 2023.
Interestingly, Nvidia has also tapped Samsung Electronics Co&nbsp;for high-bandwidth memory (HBM) chip supply and is eying Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) as a potential supplier as TSMC struggled with supply chain constraints.
TSMC, which won the crown of the leading global foundry with a 62% market share, indicated 10% annual growth in the semiconductor industry, excluding memory chips.
Analysts don&#8217;t see the fizzling of the AI demand anytime soon, hailing Nvidia as the key beneficiary. Nvidia&#8217;s moat extends beyond gaming, including artificial intelligence, <a target="_blank" href="https://www.benzinga.com/news/24/05/39086351/nvidia-could-surpass-microsoft-in-market-value-says-jim-cramer-heres-why" rel="noreferrer noopener">cloud computing, and data centers</a>.
TSMC stock gained over 63% in the last 12 months. Investors can gain exposure to the semiconductor sector via First Trust Nasdaq Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>).
Price Action: TSM shares were trading higher by 1.94% at $166.07 premarket at the last check on Thursday.
Photo by Jack Hong via Shutterstock

ASML

INTC

NXPI

What's Going On With Taiwan Semiconductor Stock On Thursday?

Concerns over rising interest rates and a barrage of <a href="https://www.benzinga.com/calendars/earnings">corporate earnings reports</a> continue to affect U.S. stocks.
What Happened: On Wednesday, April 17, all three major indexes opened in positive territory. But the market sentiment quickly soured. 
<ul>
<li>The S&amp;P 500 closed down approximately 0.6%</li>
<li>Dow Jones Industrial Average posted a more modest loss of 0.1%. </li>
<li>The tech-heavy Nasdaq Composite plunged over 1% by the day&#8217;s end.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/04/38306414/nvidia-stock-could-see-81-upside-by-2025-says-evercore-isi-only-in-the-beginning-phases-of-gener">Nvidia Stock Could See 81% Upside By 2025, Says Evercore ISI: &#8216;Only In The Beginning Phases Of Generating Outsized Returns&#8217;</a>
<h3 class="wp-block-heading">Tech: S&amp;P 500&#8217;s Worst Performing Segment</h3>
Tech giants played a pivotal role in driving the day&#8217;s market action. 
<ul>
<li>Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) took a notable hit, tumbling nearly 4%</li>
<li>Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) also saw a decline of over 1%. </li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) emerged as the worst-performing segment within the S&amp;P 500, shedding nearly 1.5%.</li>
<li>ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), the Dutch semiconductor equipment giant&#8217;s shares plummeted more than 7% following a disappointing quarterly update. </li>
</ul>
Despite resilient sales to China amidst U.S. restrictions, ASML missed order estimates, sending shockwaves through the chip sector.
Investors now brace for further fallout ahead of Taiwan Semiconductor Manufacturing Co Ltd&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) earnings report on Thursday, April 18. The company&#8217;s report will likely carry significant implications for the entire industry.
<h3 class="wp-block-heading">Nvidia-Focused ETFs In The Spotlight</h3>
Exchange-traded funds (ETFs) focused on Nvidia found themselves in the spotlight.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="625" height="451" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025637/Screenshot-2024-04-18-at-11.57.52-AM.png" alt="" class="wp-image-297254" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025637/Screenshot-2024-04-18-at-11.57.52-AM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025637/Screenshot-2024-04-18-at-11.57.52-AM-300x216.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>
<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a>
<h3 class="wp-block-heading">Top ETF Gainers On Wednesday</h3>
<ol>
<li>Direxion Daily Semiconductor Bear 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXS#NYSE">SOXS</a>) surged by 7.63%; this bearish ETF capitalized on the downturn in semiconductor stocks.</li>
<li>ETF Opportunities Trust T-Rex 2X Inverse NVIDIA Daily Target ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDQ#NYSE">NVDQ</a>) posted a gain of 8.21%; this inverse ETF offered investors double the inverse exposure to Nvidia&#8217;s daily performance.</li>
<li>GraniteShares 2x Short NVDA Daily ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVD#NYSE">NVD</a>) spiked 8.02%; this ETF leveraged a short position on Nvidia&#8217;s daily movements.</li>
<li>ProShares UltraShort Semiconductors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSG#NYSE">SSG</a>) climbed 13.82; this ETF provided ultra-short exposure to the semiconductor sector, benefiting from the broader weakness in chip stocks.</li>
</ol>
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="625" height="451" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025813/Screenshot-2024-04-18-at-11.59.05-AM.png" alt="" class="wp-image-297258" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025813/Screenshot-2024-04-18-at-11.59.05-AM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18025813/Screenshot-2024-04-18-at-11.59.05-AM-300x216.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></figure>
<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Chart: Benzinga Pro</a>
<h3 class="wp-block-heading">Top ETF Losers On Wednesday</h3>
<ol>
<li>Direxion Daily Semiconductor Bull 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>) plunged 7.71%</li>
<li>GraniteShares 2x Long NVDA Daily ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDL#NYSE">NVDL</a>) slid 7.80%; this leveraged ETF magnified losses as Nvidia shares declined.</li>
<li>ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDX#NYSE">NVDX</a>) dropped 8.02%; this ETF doubled the exposure to Nvidia&#8217;s daily performance, resulting in amplified losses.</li>
<li>Direxion Daily NVDA Bull 2X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVDU#NYSE">NVDU</a>) fell by 7.90%; this bullish ETF faced headwinds as Nvidia shares declined, eroding investors&#8217; returns.</li>
</ol>
As Nvidia-centric ETFs stole the limelight with their volatile movements, investors navigated through a landscape fraught with uncertainty. They can be seen grappling with divergent market forces and the ever-present specter of <a href="https://www.benzinga.com/topic/interest-rates">interest rate hikes</a>. 
Read Next: <a href="http://Jim Cramer Explains What Could Trigger Further Market Decline: 'If You Want To Get Out, Go Ahead ...'">Jim Cramer Explains What Could Trigger Further Market Decline &#8211; &#8216;If You Want To Get Out, Go Ahead &#8230;&#8217;</a>

Movers

Trading Ideas

NVDL

NVDQ

NVDU

ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF

NVDX

SOXL

Direxion Daily Semiconductor Bear 3X Shares

SOXS

Nvidia ETFs Take Center Stage As Bears, Bulls Duke It Out With 8%-14% Swings

Legal

Sugar Industry Merger Challenged By Justice Department

Semiconductor equipment maker Lam Research Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lrcx#NASDAQ">LRCX</a>) <a href="https://finance.yahoo.com/quote/LRCX/analysis?p=LRCX">topped estimates</a> for the fiscal first quarter 2021 and guided better than the street&#39;s expectations of revenue and earnings per share for the December quarter in its <a href="https://www.benzinga.com/pressreleases/20/10/g18003475/lam-research-corporation-reports-financial-results-for-the-quarter-ended-september-27-2020">earnings report</a>, late Wednesday.
The company expects softer margins in the second quarter.
Key Highlights:
<ul>
<li>Lam Research&#39;s Q1 revenue of $3.18 billion beat consensus by $70 million, growing 46.5% year-over-year and 14% sequentially.</li>
<li>Non-GAAP diluted EPS of $5.67 beat analyst estimates by 48 cents. Diluted EPS was $5.59.</li>
<li>System revenue, which includes sales of new leading-edge equipment in deposition, etch and clean markets, grew 57.35% year-over-year to $2.15 billion; customer support revenue crossed the billion mark for the first time, rising 28.5% year-over-year to $1.03 billion.</li>
<li>Non-GAAP gross margin grew 140 basis points sequentially to 47.4%, and non-GAAP operating margin rose 310 basis points sequentially to 30.2%.</li>
<li>The company generated $642.5 million in operating cash flow and ended the quarter with a cash balance of $4.38 billion.</li>
<li>Capital expenditure increased by 60% year-over-year to $62.8 million.</li>
</ul>
Outlook For Q2:
<ul>
<li>Lam Research expects revenue in the range of $3.1 billion to $3.5 billion, exceeding analyst consensus of $3.08 billion.</li>
<li>Non-GAAP diluted EPS expected in the range of $5.20 to $6.00, higher than the consensus of $5.16.</li>
<li>Non-GAAP gross margin&nbsp;in the range of 45% to 47%, and non-GAAP operating margin in the range of 28.5% to 30.5%</li>
</ul>
Management commentary: &quot;Our strong operational execution is enabling the [company] to meet our customers&#39; critical needs, providing a solid foundation to deliver on our long-term growth objectives,&quot; said Lam Research&nbsp;President and CEO Tim Archer.
&quot;As has been widely reporting, US regulations have impacted our ability to ship wafer fab equipment and parts to a large foundry customer in China. We are working with regulators on this issue and have applied for licenses to ship equipment and parts that are subject to the restrictions. As a result of the current situation, our December quarter guidance reflects an impact to sales to this customer,&quot; Tim said on the <a href="https://www.nasdaq.com/articles/lam-research-corp-lrcx-q3-2020-earnings-call-transcript-2020-10-22">company&#39;s conference call</a>.
&quot;From a market perspective, we see positive momentum in the underlying drivers of semiconductor growth and believe this translates into a healthy outlook for Lam&#39;s business,&quot; he added.
&quot;Third-party data suggests that growth in PC, notebook and workstation shipments in the calendar third quarter surpassed a 10-year high to reach record levels,&quot; said Tim.
Price Action: LRCX shares fell 2.08% to $366.62 in the after-hours session Wednesday.

Earnings

Guidance

LRCX

US Regulations Hampered Lam Research's Q1 Business With China

The price of crude oil hit a new five-year low over the weekend after OPEC refused to cut production. As ugly as the chart is for oil, it is not alone with a number of other <a href="http://www.benzinga.com/topic/commodities">commodities</a> trading at or near lows.
<ul>
<li>
		iPath Bloomberg Cotton Subindex Total Return SM Index (NYSE: <a class="ticker" href="/stock/bal#NYSE">BAL</a>) is trading near a four-year low</li>
<li>
		iPath Bloomberg Copper Subindex Total Return Sub-Index (NYSE: <a class="ticker" href="/stock/jjc#NYSE">JJC</a>) hit a new five-year low</li>
<li>
		iPath Bloomberg Sugar Subindex Total Return Sm Index (NYSE: <a class="ticker" href="/stock/sgg#NYSE">SGG</a>) is a few ticks from a four-year low.</li>
</ul>

	While it may appear to be the end of the road for the commodity ETFs and ETNs, not all are created equally.

	There are sub-sectors in the commodity sector that have been able to hold up better than the broad sector. When the time comes that commodities as a whole start to attract money, it will likely be led by the sub-sectors that have held up the best during the downturn.

	Several of the top-performing commodity funds this year to keep an eye on are listed below.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/markets/commodities/14/09/4829225/pan-american-silver-corp-trading-right-at-key-support-will-it-hold">Pan-American Silver Corp. Trading Right At Key Support; Will It Hold?</a></bzrelatedlink>
<h3>
	Livestock</h3>

	The iPath Bloomberg Livestock Total Return Sub-Index ETN (NYSE: <a class="ticker" href="/stock/cow#NYSE">COW</a>) is up over 18 percent this year, beating the S&amp;P 500 as well as the broad commodity index. The ETN is composed of an unleveraged investment in the futures contracts of live cattle and lean hogs. With the former commodity making up 67 percent of the portfolio and the latter accounting for the remainder.
<h3>
	Coffee</h3>

	The iPath Bloomberg Coffee Subindex Total Return SM Index (NYSE: <a class="ticker" href="/stock/jo#NYSE">JO</a>) is up an amazing 61 percent in 2014, as there have been supply issues with the commodity. The ETN tracks an unleveraged investment in one futures contract on coffee.
<h3>
	Aluminum</h3>

	The iPath Bloomberg Aluminum Subindex Total Return SM (NYSE: <a class="ticker" href="/stock/jju#NYSE">JJU</a>) has also had a solid year, up 10 percent since the start of 2014. Similar to the other ETNs, the vehicle tracks an unleveraged investment in one futures contract on aluminum. The metal as been strong this year as supply issues and increasing demand have resulted in the outperformance.

Long Ideas

Commodities

iPath DJ-UBStton SubindexTotal Return ETN

iPath Dow Jones UBSpper Subindex Total Return ETN

iPath DJ-UBS Aluminum Subindex Total Return ETN

iPath DJ-UBSffee Subindex Total Return ETN

iPath DJ-UBS Sugar Subindex Total Return ETN

Commodity ETNs Not Crashing

Big Winners (Up at least 5%): WisdomTree India Earnings ETF (NYSE: <a class="ticker" href="/stock/epi#NYSE">EPI</a>), PowerShares India Portfolio (NYSE: <a class="ticker" href="/stock/pin#NYSE">PIN</a>), iPath MSCI India ETN (NYSE: <a class="ticker" href="/stock/inp#NYSE">INP</a>), Direxion Daily India Bull 3X Shares (NYSE: <a class="ticker" href="/stock/indl#NYSE">INDL</a>) and the Direxion Daily Semiconductor Bull 3X Shares (NYSE: <a class="ticker" href="/stock/soxl#NYSE">SOXL</a>).

	Big Losers (Down at least 5%): ProShares Ultra Silver (NYSE: <a class="ticker" href="/stock/agq#NYSE">AGQ</a>), ProShares UltraShort Semiconductors (NYSE: <a class="ticker" href="/stock/ssg#NYSE">SSG</a>) and the Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="/stock/soxs#NYSE">SOXS</a>).

	Unusual Volume (All over 5X ADV): WisdomTree Global ex-US Utilities ETF (NYSE: <a class="ticker" href="/stock/dbu#NYSE">DBU</a>), EGShares GEMS Composite ETF (NYSE: <a class="ticker" href="/stock/agem#NYSE">AGEM</a>), Global X China Energy ETF (NYSE: <a class="ticker" href="/stock/chie#NYSE">CHIE</a>), SPDR Morgan Stanley Technology ETF (NYSE: <a class="ticker" href="/stock/mtk#NYSE">MTK</a>) and the PowerShares NASDAQ Internet Portfolio (NASDAQ: <a class="ticker" href="/stock/pnqi#NASDAQ">PNQI</a>).

	Must reads of the day:

	August was not a total wash for <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/09/3886878/some-em-etfs-were-pretty-good-in-august">emerging markets ETFs</a>.

	Read this from Barron's if <a href="http://blogs.barrons.com/focusonfunds/2013/09/04/gold-cheer-on-the-rise-but-wait-out-the-etf-inflows/?mod=BOLBlog">you're a goldbug</a>.

	More on the bond fund rout. It is <a href="http://www.bloomberg.com/news/2013-09-04/pimco-total-return-fund-lost-14-of-assets-in-four-months.html">getting really nasty</a> for some all-star managers.

	Central Bank Recap:

	<a href="http://www.bloomberg.com/news/2013-09-04/head-and-shoulders-favors-aussie-bofa-says-technical-analysis.html">Aussie dollar</a>.

	<a href="http://www.bloomberg.com/news/2013-09-04/canadian-dollar-remains-higher-after-central-bank-rate-decision.html">Canadian Dollar</a>.

	Bank of England and <a href="http://www.etftrends.com/2013/09/central-bank-bonanza-could-impact-japan-u-k-etfs/">Bank of Japan preview</a>.

	Emerging markets view courtesy of <a href="http://www.blackrockblog.com/2013/09/03/4-signposts-watch-emerging-markets-turnaround/">the BlackRock blog</a>.

	To have ETF-related content featured in Benzinga's Mandatory ETF Reading, please contact me on Twitter <a href="https://twitter.com/ETFProfessor1">@ETFProfessor1</a>.

New ETFs

Emerging Market ETFs

Currency ETFs

After-Hours Center

AGEM

CHIE

WisdomTree Trust International Utilities Sector Fund

INDL

PNQI

Benzinga's Mandatory ETF Reading for September 4, 2013 

Shares of Applied Materials (NASDAQ: <a class="ticker" href="/stock/amat#NASDAQ">AMAT</a>) are trading higher in the after-hours following the release of the company's Q1 earnings results. Currently, shares are higher by 4.09%, trading at $13.75; they ended the regular session higher by 2.40%, at $13.21. 

Applied Materials reported Q1 non-GAAP EPS of $0.18 (GAAP $0.09) on revenues of $2.19 billion. Q1 orders came in at $2.01 billion.

"Global demand for mobile devices is driving a third consecutive year of strong capital investment by semiconductor customers," said Mike Splinter, chairman and chief executive officer. "As a result, we see solid order momentum and an improved outlook overall for our second quarter."

During the quarter, Varian generated orders of approximately $270 million and net sales of approximately $200 million which were reported within the Silicon Systems Group (<a class="ticker" href="/stock/ssg#">SSG</a>) and the Applied Global Services (AGS) segments. 

The Varian business contributed approximately $0.01 to the company's non-GAAP EPS, which excludes acquisition-related charges equivalent to approximately $0.09 per share.

The company sees Q2 EPS in the range of $0.20-0.28.

Applied Materials, Inc. provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic and related industries.

AMAT

Applied Materials Jumps on Stellar Q1 Earnings

Novellus Systems (NASDAQ: <a class="ticker" href="/stock/nvls#NASDAQ">NVLS</a>) is scheduled to report its second-quarter 2011 results Monday after the closing bell, offering an early peek at what to expect from coming earnings from semiconductor companies. Analysts expect to see Novellus's per-share earnings up nearly 12% from a year ago but down about 27% from the previous quarter. 

While Novellus does not make the following list, here are six semiconductor stocks that are trading in the neighborhood of their 52-week highs.

Avago Technologies (NASDAQ: AVGO): After recent meetings with Avago management, Citigroup raised its price target on the stock and Kaufman Brothers forecast a stronger second half 2011 for the company. The dividend yield is 0.8% and the long-term EPS growth forecast is 12.1%. The share price is more than 33% higher than at the beginning of the year. The stock has outperformed competitor Analog Devices (NYSE: <a class="ticker" href="/stock/adi#NYSE">ADI</a>) and the industry average in that time.

Cypress Semiconductor (NASDAQ: <a class="ticker" href="/stock/cy#NASDAQ">CY</a>): Cypress was recently named a top pick by Collins Stewart, and the company is expected to post year-over-year earnings and revenue growth on July 21. Analysts on average underestimated per-share earnings in the past five quarters, and the long-term EPS growth forecast is 16.1%. The stock appears poised to recapture the 52-week high of $23.95 per share from back in May; the share price is up more than 25% year to date.

EZchip Semiconductor (NASDAQ: <a class="ticker" href="/stock/ezch#NASDAQ">EZCH</a>): After seeing record revenues in the fourth quarter, EZchip reported disappointing revenue results in the first quarter, but expects the launch of its NP-4 to help it regain momentum. The long-term EPS growth forecast is 24.6%. The share price is more than 33% higher year to date; the stock has outperformed competitor Broadcom (NASDAQ: <a class="ticker" href="/stock/brcm#NASDAQ">BRCM</a>) and the semiconductor equipment industry average, as well as the broader markets, in that time.

Intel (NASDAQ: <a class="ticker" href="/stock/intc#NASDAQ">INTC</a>): Intel seems poised to benefit from corporations that can no longer delay enterprise equipment purchases, as well as Japanese companies rebuilding following the earthquake and tsunami in March. Intel has a dividend yield of 2.9% and a return on equity of 24.4%. The share price is nearly 12% higher than six months ago. The stock has outperformed competitors Advance Micro Devices (NYSE: <a class="ticker" href="/stock/amd#NYSE">AMD</a>) and Texas Instruments (NYSE: <a class="ticker" href="/stock/txn#NYSE">TXN</a>) in that time.

Varian Semiconductor Equipment (NASDAQ: <a class="ticker" href="/stock/vsea#NASDAQ">VSEA</a>): Applied Materials (NASDAQ: <a class="ticker" href="/stock/amat#NASDAQ">AMAT</a>) agreed to acquire Varian back in May, and Varian is expected to post 40% EPS and revenue growth in its July 28 quarterly report. Short interest has risen since the takeover announcement and is now 3.7% of the float. The share price recently hit a multiyear high of $62.00 and ended last week more than 66% higher than at the beginning of the year.

Xlinx (NASDAQ: <a class="ticker" href="/stock/xlnx#NASDAQ">XLNX</a>): This maker of programmable logic devices reported record revenue results for fiscal 2011, and its CFO recently bought 14,500 shares. Xilinx has a dividend yield of 1.8% and a return on equity of 15.0%. The long-term earnings per share growth forecast is 12.2%. Its P/E ratio is less than the industry average. Shares reach a multiyear high of $37.37 last week. The stock has outperformed its industry average, but underperformed rival Altera (NASDAQ: <a class="ticker" href="/stock/altr#NASDAQ">ALTR</a>) year to date.

Action Items:

Bullish: Traders optimistic about the semiconductors industry also might want to consider the following trades:

<ul><li>PowerShares Dynamic Semiconductors Portfolio (NYSE: <a class="ticker" href="/stock/psi#NYSE">PSI</a>)</li>
<li>SPDR S&amp;P Semiconductor ETF (NYSE: <a class="ticker" href="/stock/xsd#NYSE">XSD</a>)</li>
<li>ProShares Ultra Semiconductors (NYSE: <a class="ticker" href="/stock/usd#NYSE">USD</a>)</li></ul>

Bearish: Traders pessimistic about the semiconductors industry may want to consider these alternate positions:

<ul><li>ProShares UltraShort Semiconductors (NYSE: <a class="ticker" href="/stock/ssg#NYSE">SSG</a>)</li>
<li>Direxion Daily Semiconductor Bear 3x Shares (NYSE: <a class="ticker" href="/stock/soxs#NYSE">SOXS</a>)</li></ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Short Ideas

ALTR

BRCM

EZCH

NVLS

VSEA

XLNX

Six Semiconductor Stocks Trading Near 52-Week Highs

Novellus Systems (NASDAQ: <a class="ticker" href="/stock/nvls#NASDAQ">NVLS</a>) will be reporting its second-quarter 2011 results Monday, July 11, after the closing bell. While Novellus is not usually a sector mover, investors will be looking for early signs of what to expect from tech sector earnings.

Analysts are looking for Novellus to report per-share earnings of $0.76, which is up from $0.67 per share in the same period of last year. The consensus earnings estimate is unchanged in the past 60 days. Analysts also expect to see revenues of $352.3 million, an increase of 9.6% from a year ago.

Note that Novellus earnings have grown in each of the past five quarters, topping consensus estimates each time. And analysts so far are looking for full-year EPS to be 15.4% higher than a year ago and revenues to come in 11.1% higher.

The Company

Novellus Systems develops, manufactures, sells and supports equipment used in the fabrication of integrated circuits. The San Jose, California-based company operates in two segments: the Semiconductor Group and the Industrial Applications Group. It markets its products primarily in Europe, the United States and Asia. 

During the three months that ended in June, Novellus offered cautious guidance for the second quarter and announced a senior note offering. Novellus also was the subject of takeover rumors.

Performance

The long-term earnings per share growth forecast is 13.0% and the return on equity is 20.9%. Novellus has a P/E ratio of 10.2 and a PEG ratio is 0.8. Analysts have a mean price target on the stock of $37.71 per share; shares ended the week at $35.97.

The share price is more than 16% higher than six months ago. During that time, the stock has outperformed competitor Applied Materials (NASDAQ: <a class="ticker" href="/stock/amat#NASDAQ">AMAT</a>) and the semiconductor equipment industry average, as well as the broader markets.

Action Items:

Bullish: Traders optimistic about the semiconductors industry also might want to consider the following trades:

<ul><li>PowerShares Dynamic Semiconductors Portfolio (NYSE: <a class="ticker" href="/stock/psi#NYSE">PSI</a>)</li>
<li>SPDR S&amp;P Semiconductor ETF (NYSE: <a class="ticker" href="/stock/xsd#NYSE">XSD</a>)</li>
<li>ProShares Ultra Semiconductors (NYSE: <a class="ticker" href="/stock/usd#NYSE">USD</a>)</li></ul>

Bearish: Traders pessimistic about the semiconductors industry may want to consider these alternate positions:

<ul><li>ProShares UltraShort Semiconductors (NYSE: <a class="ticker" href="/stock/ssg#NYSE">SSG</a>)</li>
<li>Direxion Daily Semiconductor Bear 3x Shares (NYSE: <a class="ticker" href="/stock/soxs#NYSE">SOXS</a>)</li></ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Previews

Novellus Earnings Preview: An Early Peek at Tech Earnings

Here is the ETF Professor's ETF Watch List for Monday April 4, 2011.

Is something wrong with chip stocks? Find the answer with the ProShares UltraShort Semiconductors (NYSE: <a class="ticker" href="/stock/ssg#NYSE">SSG</a>).

Give this new ETF a whirl to play agriculture: IQ Global Agribusiness Small Cap ETF (NYSE: <a class="ticker" href="/stock/crop#NYSE">CROP</a>).

The PowerShares Financial Preferred ETF (NYSE: <a class="ticker" href="/stock/pgf#NYSE">PGF</a>) continues to be a solid performer.

Play the midcap boom with the Direxion Daily Mid Cap Bull 3X Shares (NYSE: <a class="ticker" href="/stock/mwj#NYSE">MWJ</a>).

Emerging markets plays of the day: iShares MSCI Chile Investable Market Index Fund (NYSE: <a class="ticker" href="/stock/ech#NYSE">ECH</a>), Market Vectors Russia ETF (NYSE: <a class="ticker" href="/stock/rsx#NYSE">RSX</a>) and the SPDR S&amp;P Emerging Europe (NYSE: <a class="ticker" href="/stock/gur#NYSE">GUR</a>).

Forex play of the day: ProShares UltraShort Euro (NYSE: <a class="ticker" href="/stock/euo#NYSE">EUO</a>).

Bond play of the day: iShares JPMorgan USD Emerging Markets Bond ETF (NYSE: <a class="ticker" href="/stock/emb#NYSE">EMB</a>).

Pre-Market Outlook

CROP

iShares JPMorgan USD Emerging Markets Bond Fund

PowerShares Exchange Traded Fund Financial Preferred Portfolio

Market Vectors Russia ETF Trust Shares of Beneficial Interest

ETFs To Watch April 4, 2011 (CROP, GUR, MWJ, EMB)

Direxion Daily Semiconductor Bear 3X Shares (NYSE: <a class="ticker" href="/stock/soxs#NYSE">SOXS</a>) led the decliners among the ETFs today, with a 6.03% loss. SOXS traded lower, as the semiconductor stocks traded higher. Altera Corporation (NASDAQ: <a class="ticker" href="/stock/altr#NASDAQ">ALTR</a>) gained 4.01% today.
ProShares Ultra DJ-UBS Crude Oil (NYSE: <a class="ticker" href="/stock/uco#NYSE">UCO</a>) traded lower on Friday, along with crude oil. UCO lost 4.00%, and crude oil fell below $90.
iPath Dow Jones-UBS Cotton Subindex Total Return ETN (NYSE: <a class="ticker" href="/stock/bal#NYSE">BAL</a>) fell 3.50%, as cotton futures showed some weakness. BAL closed at $84.05, and it had a volume of 91.6K traded shares.
ProShares UltraShort Semiconductors(<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/ssg#NYSE">SSG</a>) is another bear market semiconductor ETF that struggled today. SSG fell 3.05%, and closed at $9.23.

Aberdeen Emerging Markets Telecommunications & Infrastructure Fund

Benzinga's Top ETF Decliners, February 4th (SOXS, UCO, BAL, SSG)

Effective Friday, October 15, 2010, iShares S&amp;P North American Technology-Semiconductors Index Fund (<a class="ticker" href="/stock/igw#">IGW</a>) changed its name and ticker symbol to iShares PHLX SOX Semiconductor Sector Index Fund (SOXX).  The CUSIP did not change, but the PHLX (Philadelphia Stock Exchange) is owned by Nasdaq so the listing changed from the NYSE to Nasdaq.
The underlying index also changed to the PHLX Semiconductor Sector Index, which has been the benchmark semiconductor index since its introduction in 1993.  It remains a mystery as to why it took so long for an unleveraged ETF tracking the SOX index to become available.  The <a href="http://investwithanedge.com/category/etf-statistics" target="_blank">ETF statistics</a> will treat this as an ETF change – not a closure and launch.
<a href="http://us.ishares.com/product_info/fund/overview/SOXX/index.htm" target="_blank">SOXX overview</a> indicates 31 current holdings with the largest being Broadcom Corp Class A (<a class="ticker" href="/stock/brcm#">BRCM</a>) 8.7%, Texas Instruments (<a class="ticker" href="/stock/txn#">TXN</a>) 8.6%, Applied Materials (<a class="ticker" href="/stock/amat#">AMAT</a>) 8.0%, Intel (<a class="ticker" href="/stock/intc#">INTC</a>) 7.5%, and Marvell Technology Group (<a class="ticker" href="/stock/mrvl#">MRVL</a>) 6.3%.  The expense ratio remains at 0.48%.
The current version of the <a href="http://us.ishares.com/content/stream.jsp?url=/content/en_us/repository/resource/fact_sheet/soxx.pdf&amp;mimeType=application/pdf" target="_blank">SOXX fact sheet</a> (pdf) still contains many references to the previous underlying index as it was the official index at the end of the quarter.  Check back in January 2011 for updated information.
The currently quantity of semiconductor ETFs is eight:
<ol>
<li>iShares PHLX SOX Semiconductor Sector Index Fund (SOXX) (<a href="http://us.ishares.com/product_info/fund/overview/SOXX/index.htm" target="_blank">SOXX overview</a>) tracks the PHLX SOX Semiconductor Index of 31 stocks with an expense ratio of 0.48%</li>
<li>HOLDRS Semiconductor (<a class="ticker" href="/stock/smh#">SMH</a>) (<a href="http://www.holdrs.com/holdrs/main/index.asp?Action=HOLDROutstanding&amp;SubAction=SMH&amp;HoldrName=Semiconductor%A0HOLDRS" target="_blank">SMH overview</a>) is based on static holdings of 18 stocks with an approximate expense ratio of 0.28%</li>
<li>SPDR S&amp;P Semiconductor (<a class="ticker" href="/stock/xsd#">XSD</a>) (<a href="https://www.spdrs.com/product/fund.seam?ticker=XSD" target="_blank">XSD overview</a>) tracks the S&amp;P Semiconductor Index of 26 stocks with an expense ratio of 0.35%</li>
<li>PowerShares Dynamic Semiconductor (<a class="ticker" href="/stock/psi#">PSI</a>) (<a href="http://www.invescopowershares.com/products/overview.aspx?ticker=PSI" target="_blank">PSI overview</a>) tracks the Dynamic Semiconductors Intellidex Index of 30 stocks with an expense ratio of 0.60%</li>
<li>ProShares Ultra Semiconductors (<a class="ticker" href="/stock/usd#">USD</a>) (<a href="http://www.proshares.com/funds/usd_index.html" target="_blank">USD overview</a>) tracks 200% the daily performance of the Dow Jones U.S. Semiconductor Index of 51 stocks with an expense ratio of 0.95%</li>
<li>ProShares UltraShort Semiconductors (<a class="ticker" href="/stock/ssg#">SSG</a>) (<a href="http://www.proshares.com/funds/ssg.html" target="_blank">SSG overview</a>) tracks 200% the daily inverse performance of the Dow Jones U.S. Semiconductor Index of 51 stocks with an expense ratio of 0.95%</li>
<li>Direxion Daily Semiconductor Bull 3x (<a class="ticker" href="/stock/soxl#">SOXL</a>) (<a href="http://www.direxionshares.com/etf/semibu_3x_shares.html" target="_blank">SOXL overview</a>) tracks 300% the daily performance of the PHLX SOX Semiconductor Index of 31 stocks with an expense ratio of 0.95%</li>
<li>Direxion Daily Semiconductor Bear 3x (<a class="ticker" href="/stock/soxs#">SOXS</a>) (<a href="http://www.direxionshares.com/etf/semibe_3x_shares.html" target="_blank">SOXS overview</a>) tracks 300% the daily inverse performance of the PHLX SOX Semiconductor Index of 31 stocks with an expense ratio of 0.95%</li>
</ol>
Disclosure covering writer, editor, and publisher:  No positions in any of the securities mentioned.  No positions in any of the companies or ETF sponsors mentioned.  No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.
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iShares Trust S&P Semiconductor Index Fund

MRVL

Semiconductor ETF Goes From IGW to SOXX

<a rel="attachment wp-att-11537" href="http://etfdailynews.com/blog/2010/04/22/a-new-wave-of-capex-spending-on-it-could-provide-a-major-boost-to-these-semiconductor-etfs/semiconductor-2/"><img class="alignleft size-full wp-image-11537" title="semiconductor" src="http://etfdailynews.com/blog/wp-content/uploads/2010/04/semiconductor.jpg" alt="" width="110" height="110" /></a>“The ProShares UltraShort Semiconductors ETF (NYSE: <a class="ticker" href="/stock/ssg#NYSE">SSG</a>) — This ETF seeks daily investment results that are twice the inverse of the daily performance of the Dow Jones U.S. Semiconductor(...) Read the rest of <a href="http://etfdailynews.com/blog/2010/09/15/if-the-market-stumbles-this-inverse-etf-could-make-a-run-ssg/">If The Market Stumbles, This Inverse ETF Could Make A Run (<a class="ticker" href="/stock/ssg#">SSG</a>)</a> 
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The copying, republication or redistribution of ETFDailyNews Content, including by framing or similar means, is expressly prohibited without the prior written consent of ETFDailyNews.
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</center>

If The Market Stumbles, This Inverse ETF Could Make A Run (SSG)

Duckwall-ALCO Stores, Inc. (Nasdaq: <a class="ticker" href="/stock/duck#Nasdaq">DUCK</a>) has announced that Terrence M. Babilla has joined the Company's Board of Directors.
Mr. Babilla is President, Chief Operating Officer and General Counsel of Sport Supply Group, Inc. (<a class="ticker" href="/stock/ssg#">SSG</a>), based in Dallas, Texas. SSG manufactures, imports and distributes sporting goods primarily to the institutional market. He has been with SSG since 1995. Prior to joining SSG, Mr. Babilla was a partner in the Corporate and Securities Group of Hughes &amp; Luce, LLP, a law firm in Dallas. Mr. Babilla received his Juris Doctorate from the University of San Diego.

Management

DUCK

Duckwall-ALCO Stores Announces New Board Member 

Bear market ETFs traded mostly higher today, as U.S. equity market continues to struggle. The NASDAQ-100 Index fell 1.22%, and ProShares Trust UltraPro Short QQQ ETF (NYSE: <a class="ticker" href="/stock/sqqq#NYSE">SQQQ</a>) jumped 3.46%. Among the NASDAQ-100 components Patterson Companies, Inc. (NASDAQ: <a class="ticker" href="/stock/pdco#NASDAQ">PDCO</a>) had the biggest loss with a decline of 4.91%. 
ProShares UltraShort Semiconductors(<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/ssg#NYSE">SSG</a>) continued to move higher, as investors are still selling the semiconductor stocks. Intel Corporation (NASDAQ: <a class="ticker" href="/stock/intc#NASDAQ">INTC</a>) fell 1.86% today, and closed at $18.18.
Direxion Daily Technology Bear 3x Shares(<a class="ticker" href="/stock/etf#">ETF</a>) (NYSE: <a class="ticker" href="/stock/typ#NYSE">TYP</a>) gained 3.14%, as International Business Machines Corp. (NYSE: <a class="ticker" href="/stock/ibm#NYSE">IBM</a>) dropped 1.99%. Apple Inc. (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>) dropped 1.07%, and closed at $240.28.
ProShares UltraShort MSCI Brazil (NYSE: <a class="ticker" href="/stock/bzq#NYSE">BZQ</a>) gained 2.88%, and closed at $23.57. Vale (ADR) (NYSE: <a class="ticker" href="/stock/vale#NYSE">VALE</a>) fell 1.02%, and Petroleo Brasileiro SA (ADR) (NYSE: <a class="ticker" href="/stock/pbr#NYSE">PBR</a>) dropped 0.93%.

PDCO

SQQQ

VALE

Benzinga's Top ETF Gainers (SQQQ, SSG, TYP, BZQ)

UltraShort Semiconductors declares quarterly distribution of $0.0231

UltraShort Semiconductors declares quarterly distribution of $0.0887

Goldman's option trade recommendations: APO, ACN, CLL calls

UltraShort Semiconductors declares quarterly distribution of $0.1134

UltraShort Semiconductors declares quarterly distribution of $0.4699

TSLA

Press Releases

ProShares Announces ETF Share Splits

BITI

BOIL

KOLD

SDOW

SPXE

SPXN

SPXU

SPXV

ProShares UltraShort Semiconductors -2x Shares

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