The Philadelphia Semiconductor Index (SOX) is up nearly 5% today as semiconductor stocks are pushing the NASDAQ Composite up more than 1%, almost twice as much as the DJIA and S&P 500.
A good earnings report from one company and heightened expectations for deliveries of chips for mobile devices and for programmable chips used in a variety of manufactured goods, including cars.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) reported better-than-expected revenues this morning and led the charge with a gain of 2.75% at$13.83. The shares moved to with a dime of a new 52-week high earlier this morning.
Altera Corp. (NASDAQ: ALTR) is up nearly 9.5% at $40.57. Texas Instruments Inc. (NYSE: TXN) is up nearly 7.5% at $33.31. Avago Technologies Ltd. is up 7.7% at $34.09. Intel Corp. (NASDAQ: INTC) is up more than 1.5% at $25.43, within $0.50 of a new 52-week high.