Why Semiconductor Stocks Taiwan Semiconductor Manufacturing, Micron, and Aehr Test Systems Rallied Today
Shares of semiconductors were outpacing the broader markets, which were quite volatile today. Industry leaders Taiwan Semiconductor Manufacturing (NYSE: TSM), Micron Technology (NASDAQ: MU), and Aehr Test Systems (NASDAQ: AEHR) were up 2.1%, 5.5%. and 8.8% on the day, respectively.
There wasn't any company-specific news today, but the broader semiconductor sector was up strongly, even as many other cyclical industries outside of tech were struggling.
One likely reason for the surge in chip stocks today was strength in technology more broadly, as long-term interest rates fell hard today. In addition, investors may be getting excited about the prospects for semiconductors on the heels of Nvidia's (NASDAQ: NVDA) GTC conference on Tuesday.
Source Fool.com
