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Semiconductor stocks like Nvidia and Micron are on a remarkable streak [Yahoo! Finance Canada]
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Deutsche Bank strategist Jim Reid pointed out that over the past 16 days, the index has surged an impressive 38.7%. The move has been underpinned by the index's largest component, Nvidia ( ), which has risen 22.6% in that time. Nvidia is also the world's largest company by market cap at $4.92 trillion. What is the SOX? The Philadelphia Semiconductor Sector Index is a capitalization-weighted index composed of the 30 largest US companies involved in the design, distribution, manufacture, and sale of semiconductors. It's dominated by a few megacap names that serve as the foundation for the global artificial intelligence build-out. The four largest weightings in the index, from highest to lowest, are Nvidia, Broadcom ( ), Micron ( ), and AMD ( These four chip companies have seen their stocks surge in April. Memory chip player Micron has gained 52%, Broadcom is up 45%, AMD is up 55%, and Nvidia has tacked on 23%. The fundamental backdrop: Besides pure momentum, the sector has rece
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