SMH is trading at $531 (1.6% up) in after-hours sessions as the semiconductor sector leads tech gains following reports of a potential manufacturing deal between Intel and Apple.
- Intel shares surged 13-14% following Bloomberg reports that the company is in exploratory talks with Apple regarding U.S.-based chip manufacturing.
- The semiconductor rally comes amid broader market strength, with the Nasdaq rising 0.99% as cooling JOLTS job opening data increased expectations for Federal Reserve rate cuts.
- SMH previously closed the regular session 3.14% higher, reflecting sustained momentum and investor optimism across the chip sector.