Intel's (INTC) Bet on ASML (ASML) Sends Semiconductor ETF (SMH) Higher

July 10, 2012 9:52 AM EDT Send to a Friend
Despite some negative news in the sector, there's plenty of positive pushing the Market Vectors Semiconductor ETF (NYSE: SMH) higher today.

Earlier, Applied Materials (Nasdaq: AMAT) trimmed its outlook for sales and earnings in fiscal 2012, now seeing both coming in below expectations. Despite the dour 2012 outlook, third-quarter numbers are still expected to come within expectations.

Making a run higher is ASML Holding NV (Nasdaq: ASML), which is up 7.7 percent Tuesday. After the market closed Monday, Intel (Nasdaq: INTC) announced plans to invest about $4.1 billion in ASML, which is intended to "accelerate the development of 450-millimeter (mm) wafer technology and extreme ultra-violet (EUV) lithography."

In early trading, the chip ETF is 0.6 percent better.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

ETFs

Related Entities

Earnings

Add Your Comment