Key Points
The Direxion Daily Semiconductor Bull 3X ETF (NYSEMKT: SOXL) rose approximately 20% during midday trading after a promising announcement related to the semiconductor industry. This surge came after President Trump stated that Apple (NASDAQ: AAPL) will establish an all-American semiconductor supply chain in collaboration with Intel (NASDAQ: INTC), which already saw its stock increase by over 9%.
Key players in semiconductor manufacturing are also experiencing gains, with Ichor Holdings (NASDAQ: ICHR) up 10.6% and Ultra Clean Holdings (NASDAQ: UCTT) gaining 9.9%. Notably, the unlevered iShares Semiconductor ETF (NASDAQ: SOXX) increased by 6.5%, reflecting significant activity in the sector.
The partnership between Intel and Apple was announced via social media and remains unconfirmed by both companies, but investors are optimistic about its potential impact on domestic semiconductor manufacturing.
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