Benzinga - by Johnny Rice, Benzinga Staff Writer.
Semiconductor stocks were up on Thursday after largely having slipped this last month. Nvidia (NASDAQ:NVDA) was up over 2.0% at the time of writing. Advanced Micro Devices (NASDAQ:AMD) was up over 0.5%. Taiwan Semiconductor (NYSE:TSM) was up 0.2%. The lone drop came from Intel (NASDAQ:INTC), which shed 0.15%.
Fed Decision
The semiconductor industry, a high-growth sector, responded well to the news. Typically, investors are scared away from high-growth equities in high-interest rate environments.
The Fed reiterated that its target for considering reducing interest rates would be 2% inflation. All eyes will be on numbers coming May 15.
Solid Earnings
QualcommInvesting In The Space
iShares Semiconductor ETFAnd for investors who want to take their view even further, Direxion offers the Direxion Daily Semiconductor Bull 3X Shares (NYSE:SOXL) which seeks daily investment results, before fees and expenses, of 300% of the performance of the NYSE Semiconductor Index.
For the bears, who think Semis are overvalued and a correction is imminent, Direxion also offers the Direxion Daily Semiconductor Bear 3X Shares (NYSE:SOXS) which seeks daily investment results, before fees and expenses, of 300% of the inverse of the performance of the NYSE Semiconductor Index.
Featured photo by Hans Eiskonen on Unsplash
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