AMD Peers Boost Semiconductor ETF 7.5% While Software ETF Soars 14%
The iShares Semiconductor ETF, which includes chipmakers like AMD, rallied roughly 7.5% over the week, underperforming the iShares software ETF’s 14% surge and highlighting weaker hardware demand. Despite the rebound, semiconductor stocks including AMD remain below their 52-week highs after a muted recovery relative to software peers.
1. Semiconductor Sector Weekly Rally
The iShares Semiconductor ETF (SOXX), which includes AMD, jumped about 7.5% over the five-day period ending April 17, trailing the iShares Expanded Tech-Software ETF's 14% surge. This rotation underscores stronger investor interest in cloud and software names over traditional hardware.
2. Implications for AMD Valuation
As a leading chipmaker, AMD likely mirrored SOXX’s rebound yet still lags broader tech gains. The sector’s muted recovery leaves AMD below its recent highs, indicating additional catalysts may be required to sustain the rally.