Semiconductor exchange traded funds (ETFs) have taken a beating along with the overall market downturn, but brighter days appear to be ahead.
Yesterday, Intel’s second-quarter profit jumped 25% on demand for laptop chips. The numbers handily beat Wall Street’s estimates, reports Jordan Robertson for the Associated Press. Intel (INTC) is the world’s largest supplier of microprocessors – the brains of personal computers.
Intel is getting help from the rising demand for laptop computers around the world, along with the processors that keep them running. Analysts feared that the company was going to be dinged by the U.S. economy.
That illustrates the point Billy Fisher for the Street makes in a recent article: the sector is reliant on consumers.