US chip stocks gain after Nvidia results
SOXX•Other chip names and ETFs advance
U.S.-listed shares of Arm Holdings O9Ty.F, ARM.O and Marvell MRVL.O rose 4.8% and 3.8%, respectively; Lam Research LRCX.O gained 2.5%.
U.S.-listed shares of SK Hynix 000660.KS, SKHY.O were up 3.9% and TSMC 2330.TW, TSM.N rose 1.3%.
The iShares Semiconductor ETF SOXX.O and Roundhill Memory ETF DRAM.Z rose about 2% each.
Chip stocks rise after Nvidia forecast
U.S. semiconductor shares gained in early trading after Nvidia NVDA.O forecast a 70% jump in revenue next fiscal year.
Intel INTC.O rose 3.5% and Broadcom AVGO.O gained 2.2%.
Sector indices and broader tech markets
The Philadelphia SE Semiconductor index .SOX rose 1.84% and was on track for its best day in more than two weeks if gains held.
Tech shares also gained across Asian and European markets.
