One of the best performing sectors in the equity market is the Philadelphia Semiconductor Index known as the SOXX. Typically the sector is very prone to boom and bust cycles as the surge in demand leads to overbuilding of foundries and flood of supply
But while the public health emergency remains a terrible cost of stress to those societies and economies the region may soon see an unexpected boom in economic activity and investors are beginning to take notice.
Key FAANG stocks all reported numbers with most blowing out their results well above consensus estimates. Yet the overall market is showing little follow through as the tech heavy Nasdaq trades lower this morning.
AAPL will report earnings after the close today and markets are expecting a blow quarter as the Cupertino giant is likely to have re-established its leadership in the global smartphone handset market. There is however one area of the market that is actively betting that the stock will fall.