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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.

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