Intel’s News Boosts Stocks, Semiconductor ETFs
April 16th at 1:00am by Tom Lydon
Semiconductor maker Intel Corp (INTC) reported a lower quarterly net profit and revenue ahead of expectations, sending shares and semiconductor exchange traded funds (ETFs) higher in after-hours trading.
Intel is one of the bellwethers for the technology sector, reports Reuters, and the company makes up 21% of the Semiconductor HOLDRs (SMH). Year-to-date, the fund is down 11%. Intel is also 8.3% of iShares S&P North American Tech-Semiconductors (IGW), which is down 15.7% year-to-date.
