SMH is trading at $579.73 (+1.76%), driven by dip-buying and rotation back into growth stocks after August 5’s technology-led selloff.
- The Nasdaq Composite is up 0.46%, and the move appears unrelated to a new semiconductor-specific announcement.
- Overnight weakness in guidance from Western Digital and SanDisk continues to pressure memory names, while Asian chip stocks suffered heavy losses.
- Lower, subdued Treasury yields and improving U.S.-Iran diplomatic sentiment are supporting risk appetite, though rate-hike concerns remain.