On the heels of Intel’s (INTC) not-so-good fourth-quarter earnings report, the semiconductor exchange traded fund (ETF) took a spill to a three-year low.
Intel makes up 24.2% of the Semiconductor HOLDRs ETF (SMH), and the company is a bellwether of the semiconductor sector, reports Wanfeng Zhou for Forbes. They reported earnings of 38 cents a share, below the 40 cents estimated by analysts. SMH’s low, reached intraday on Tuesday, was its worst level since September 2004.
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