November 29, 2021, 3:22 pm EST
The Power of Semiconductors
The power of semiconductors is easily visible today as shown in the featured table. The list of leaders in semiconductors and related industries, including many large caps, are up between 3-5% today: LRCX, NVDA, MCHP, NXPI, AMAT, TER, AMD, ON, XLNX, MRVL, etc.
This strong performance occurred the day after the COVID-19 variants news last Friday. It means that the market discounts the threat of this disease, at least for now.
Joe Biden also indicated to keep the US open under this condition that ignores the warnings from the World Health Organization. Indeed, WHO misled the whole world by issuing incorrect information at the beginning of COVID-19 from China that caused a global crisis with more than 7 million deaths. Its credibility is already sinking to the bottom.
Thus, the stock market seems to resume its rally again, led by the technology sector. However, there are still many unknowns about the development of COVID-19. Therefore, we should stay bullish bias cautiously and keep following up with the market on any update.