SMH is trading 5% higher today as the semiconductor sector rebounds following strong fiscal Q3 results and guidance from Micron Technology.
- Micron Technology’s robust earnings report triggered a powerful relief rally across chip stocks, helping the ETF recover from the recent AI-related selloff.
- Qualcomm shares climbed on optimism surrounding the company's data-center ambitions, further boosting investor confidence in the sector.
- Firmer Nasdaq futures are providing additional tailwinds, lifting the broader information technology sector during pre-market activity.