iShares Semiconductor ETF Logs Record 17-Day Run and 30% April Gain
iShares Semiconductor ETF notched a record 17-day winning streak, surpassing its 2014 high-water mark, as the Philadelphia Semiconductor Index surged 42%. SOXX rose 30% in April on a U.S.-Iran ceasefire and a 21% jump in Intel stock after first-quarter earnings beat and raised guidance.
1. Historic Winning Streak
iShares Semiconductor ETF notched 17 consecutive daily gains, exceeding the previous 15-day record set in 2014 as the Philadelphia Semiconductor Index rallied 42% since early April.
2. April Surge and Geopolitical Catalyst
The ETF climbed 30% in April, driven by eased Middle East tensions after a U.S.-Iran ceasefire announcement on April 7 and increased risk appetite across chip equities.
3. Intel Earnings Propel Sector
Intel reported first-quarter earnings of $0.29 per share on $13.58 billion in revenue, beat expectations, raised second-quarter guidance and saw its stock rise 21%, bolstering sector ETFs with record RSI levels.