VanEck Semiconductor ETF Surges 25% in April, Jumps 3.8% on Intel Beat
In April, SMH rose 25%, contributing to a record 17-day winning streak for the Philadelphia Semiconductor Index with a 42% gain led by AMD, Nvidia and Micron. On April 24, SMH jumped 3.8% to new highs after Intel posted Q1 EPS of $0.29 on $13.58B revenue and raised guidance.
1. Historic Index Rally Fuels ETF Gains
The Philadelphia Semiconductor Index extended its winning streak to a record 17 days, marking a 42% surge since the start of April that propelled VanEck Semiconductor ETF up 25% over the month. Top contributors included AMD, Nvidia and Micron, which together represent a significant share of the index's market capitalization.
2. Intel Q1 Beat Spurs ETF Jump
Intel's first-quarter results delivered EPS of $0.29 on $13.58 billion in revenue, both surpassing consensus, and management boosted second-quarter guidance. The surprise beat prompted multiple price-target increases and an upgrade, reinforcing optimism across the semiconductor sector.
3. ETF Hits New Highs with Elevated RSI
On April 24, the ETF climbed 3.8% to reach new all-time highs as traders piled into chip funds, supported by Intel's strong outlook. The ETF's 14-day Relative Strength Index climbed to 99.7, indicating extremely overbought conditions yet highlighting robust momentum.