The technology trade is back with chip stocks witnessing an astounding rally, driving gains in semiconductor ETFs. iShares Semiconductor ETF (NASDAQ:SOXX), VanEck Vectors Semiconductor ETF (NASDAQ:SMH), SPDR S&P Semiconductor ETF (NYSE:XSD) and First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) are all rising.
Historic Semiconductor Stocks Rally
According to a Thursday post on X by The Kobeissi Letter, the Philadelphia Semiconductor Index has gained for 16 consecutive trading sessions, surging 38.7% and putting the index on pace for its biggest monthly gain since February 2000. The winning streak has officially surpassed the previous record stretch of 15 days posted in 2014.
As per the post, SOXX and SMH have collectively pulled in $5.5 billion so far in April, “already surpassing any other full month of inflows on record.”
SOXX has absorbed $2.05 billion in April inflows, more than double its previous monthly record, while SMH has pulled in $3.4 billion, also an all-time high for the fund.
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