SMH is trading 4.1% up today as the semiconductor sector rallies amid a broader risk-on move in U.S. equities and easing macroeconomic tensions.

  • Sector-specific strength is driven by upbeat earnings and guidance from ON Semiconductor.
  • Investors are closely watching for Tower Semiconductor’s Q2 release and AMD’s AI-focused results, which are reinforcing confidence in semiconductor demand after a volatile July.