CA - SMH: Correction In Semiconductor Stocks Presents A Gift Not To Be Missed
2024-04-26 11:30:00 ET
Summary
- VanEck Semiconductor ETF fell into correction territory, stunning late investors who chased the AI FOMO.
- Earnings growth estimates for the semiconductor industry remain robust, lowering the chance of a debilitating bear market decline.
- SMH's leading companies are expected to continue riding the AI growth wave, underscoring robust buying sentiments.
- SMH's price action suggests buyers have returned this week, underpinning a possible bottom.
- Semiconductor investors waiting for an opportunity to pull the buy trigger shouldn't miss the gift presented.
VanEck Semiconductor ETF Fell Into A Correction
Late VanEck Semiconductor ETF ( SMH ) investors received their moment of reckoning I believe they deserve, as SMH fell into correction territory (>15% decline) through last week's lows after topping out in March 2024....
SMH: Correction In Semiconductor Stocks Presents A Gift Not To Be Missed