Related: 46 Tech ETFs to Tap Into Big Growth Names
Recent ebullience towards tech ETFs is represents a rapid reversal of fortune. Just a few weeks ago, investors were worried about the impact Brexit could have on technology, the S&P 500’s largest sector allocation. Speculation that Great Britain’s decision to depart the European Union could weigh on technology stocks comes just a few weeks after chip stocks and ETFs started showing signs of leadership.
On Thursday, California-based Qualcomm delivered fiscal third-quarter EPS of $1.16 on $6.03 billion in revenue during its fiscal third quarter. Analysts expected QCOM to earn 97 cents on revenue of $5.58 billion. The shares surged on the news.
Risk-tolerant traders betting on quick near-term gains for semiconductor stocks can consider the Direxion Daily Semiconductors Bull 3x Shares (NYSEArca: SOXL), which takes the leveraged 300% daily exposure of the PHLX Semiconductor Sector Index, or the ProShares Ultra Semiconductors (NYSEArca: USD), which follows the 200% daily performance of the Dow Jones U.S. Semiconductors Index.
VanEck Vectors Semiconductor ETF
