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Semis gain after Apple event, trade optimism

Sep. 11, 2019 11:11 AM ETSMH, XLK, PSI, MRVL, SWKS, MKSI, SLAB, XSD, SSG, USD, SOXL, SOXS, SOXX, IPHI, XTH, FTXLBy: Brandy Betz, SA News Editor2 Comments
  • The Philadelphia Semiconductor Index is up 1.1% compared to the tech sector's (NYSEARCA:XLK0.4% gain, +0.5% for the Nasdaq, and +0.3% for the S&P 500.
  • Semis move following Apple's fall launch event yesterday, which featured the expected incremental iPhone updates but pleased analysts with the lower-than-expected Apple TV+ pricing.
  • Micron is still gaining after this morning's Longbow upgrade on improving memory trends.
  • Earlier today, China exempted some U.S. goods from its retaliatory tariffs ahead of a planned meeting between the countries, which boosted optimism for China-exposed sectors.
  • Top semi movers: Inphi (IPHI +3.3%), Marvell (MRVL +3%), Skyworks (SWKS +3.1%), Silicon Labs (SLAB +2.5%), MKS Instruments (MKSI +1.7%).
  • Related semi ETFs: SOXL, SMH, SOXX, USD, SOXS, XSD, PSI, FTXL, SSG, XTH

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