The broader market is worrying about rate hikes, while chips are doing their own thing.
Friday’s U.S. close:
Dow -0.51%, S&P -0.38%, Nasdaq -0.29%.
The Philadelphia Semiconductor Index, on the other hand, rose +3.37% to 11,735.26, with all 30 constituents closing higher.
The leaders were not slogans, but memory and equipment:
SanDisk about +11.9%
Micron closed at $1016.59, about +6.10%
AMD closed at $477.57, about +4.69%
NVIDIA only followed with about +0.84%
For comparison: Tesla closed at 354.08, about -5.92%.
The stronger-than-expected nonfarm payrolls pushed rate-hike expectations higher again. Software with high valuations took the first hit, while money was still willing to flow into AI hardware and related plays.
In my view, this looks more like “rates are压inging valuations, while the industry is still buying computing-power infrastructure.” Don’t treat a single day’s gain in the Philadelphia Semiconductor Index as a full return of risk appetite.
Next week’s CPI is the next shot.
Source: cross-checked via TradingKey / Sina Finance · China Fund News (U.S. Eastern close on 9/4).
Not investment advice.
$MU
Friday’s U.S. close:
Dow -0.51%, S&P -0.38%, Nasdaq -0.29%.
The Philadelphia Semiconductor Index, on the other hand, rose +3.37% to 11,735.26, with all 30 constituents closing higher.
The leaders were not slogans, but memory and equipment:
SanDisk about +11.9%
Micron closed at $1016.59, about +6.10%
AMD closed at $477.57, about +4.69%
NVIDIA only followed with about +0.84%
For comparison: Tesla closed at 354.08, about -5.92%.
The stronger-than-expected nonfarm payrolls pushed rate-hike expectations higher again. Software with high valuations took the first hit, while money was still willing to flow into AI hardware and related plays.
In my view, this looks more like “rates are压inging valuations, while the industry is still buying computing-power infrastructure.” Don’t treat a single day’s gain in the Philadelphia Semiconductor Index as a full return of risk appetite.
Next week’s CPI is the next shot.
Source: cross-checked via TradingKey / Sina Finance · China Fund News (U.S. Eastern close on 9/4).
Not investment advice.
$MU
