Qualcomm Leads 20% Three-Day Surge as SOXX ETF Hits Record High
QCOM•Qualcomm shares rose over 12% on May 22 and have climbed nearly 20% over the last three trading sessions. The iShares Semiconductor ETF reached its first intraday record high since May 11 as chip stocks broadly rallied without Nvidia’s support.
1. Sector Rally Rebounds to Record Zone
The iShares Semiconductor ETF extended a three-day rally to hit its first intraday record high since May 11, reversing a prior three-day slide. This broad surge reflects renewed buying across the chip complex rather than reliance on any single stock.
2. Qualcomm Leads Gains with Double-Digit Jump
Qualcomm shares surged over 12% on Friday and have climbed nearly 20% over the past three sessions, making it the top contributor to the sector’s recent value creation.
3. Broad Market Rotation and Value Creation
Other chip names added significant market value, with AMD up roughly $100 billion, ARM and Micron around $90 billion each, TSMC and ASML over $70 billion, and Intel more than $50 billion, while high-beta plays like Navitas climbed 18% and Vishay and Skyworks rose about 10%.
