Chip stocks see broad rally, as AMD's stock leads the 'SOX' into record territory

chip-stocks-see-broad-rally,-as-amd's-stock-leads-the-'sox'-into-record-territory

The semiconductor sector was enjoying a broad and healthy rally in afternoon trading Monday, enough to propel the PHLX Semiconductor Index SOX, -1.17% into record territory. The chip sector index, known as the “SOX,” ran up 2.7% with all 30 components gaining ground. The SOX has now run up 8.2% amid a four-session win streak, and was on track to close above the Dec. 7 record of 3,988.75. Advanced Micro Devices Inc.’s stock AMD, -1.54% was the SOX’s biggest gainer, rallying 5.9%, but was still below its Nov. 29 record close of $161.91. The SOX’s other top performers Monday were Lattice Semiconductor Corp. shares, LSCC, -1.94% which climbed 4.9%, and Nvidia Corp.’s stock, NVDA, -2.33% which hiked up 4.7%. Among other more-active SOX components, shares of Intel Corp. INTC, -0.34% were up 1.1% and Micron Technology Inc.’s stock MU, -1.80%, which was the SOX’s worst performer on Monday, rose just 0.4%. The SOX’s unanimous rally Monday comes as the technology-heavy Nasdaq 100 NDX, -0.28% jumped 1.4% and the S&P 500 SPX, +0.06% rose 1.2%.

Source: Marketwatch

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