A more than 6% rally in Intel (NasdaqGS: INTC) on Wednesday following blowout earnings vaulted semiconductor exchange traded funds (ETFs) among the top-performing sectors. Tech investors are also looking for earnings from Apple (NasdaqGS: AAPL) after Wednesday’s closing bell.
“Intel delivered a surprising strong March quarter, particularly given the multiple weak data points throughout the PC industry,” Williams Financial Group said in a research note.
“The company grew annually at a double digit pace in all product areas and geographies,” the analysts wrote. “Intel also delivered unexpected solid gross margins which resulted in positive earnings versus expectations.”
Intel dominates semiconductor ETFs such as Semiconductor HOLDRS (AMEX: SMH), PowerShares Dynamic Semiconductors Portfolio (NYSEArca: PSI) and SPDR S&P Semiconductor ETF (NYSEArca: XSD).
Semiconductor HOLDRS
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