TER - Semiconductor stocks rally after Applied Materials earnings smasher

The Philadelphia Semiconductor Index (SOXX) is up 2.4% compared to the 0.2% decline for the broader tech sector, catching a lift from the upside Applied Materials earnings print and a report that Silicon Labs plans to sell off its analog chip unit for $3B or more.Other semi equipment movers following AMAT include Brooks Automation ([[BRKS]] +3.9%) and Teradyne ([[TER]] +4.9%).Silicon Labs peers on the move include Analog Devices ([[ADI]] +3.7%) and Maxim Integrated Products ([[MXIM]] +3.5%).Background: Applied Materials reported fiscal Q1 results with record revenue and non-GAAP profit and an outlook that caused RBC to predict a semi equipment "super cycle" in 2021.

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Semiconductor stocks rally after Applied Materials earnings smasher