Moomoo was featured by U.S. News& World Report about best semiconductor ETFs

By Tony Dong, Oct.23, 2024

(U.S. News & World Report) - The semiconductor industry, known for its high volatility and cyclical nature, once again displayed its dramatic swings in October. Recent events have highlighted just how quickly fortunes can change in this high-profile sector.

For example, shares of Taiwan Semiconductor Manufacturing Co. Ltd. (ticker: TSM) surged nearly 10% after the company reported a 54% increase in net profits for the third quarter and raised its revenue growth forecasts to an expected pace of 35%.

Conversely, shares of ASML Holding NV (ASML), a Dutch company that produces advanced lithography machines essential for creating intricate circuits on chips, plummeted by 16% after an accidental, less-than-stellar early earnings release due to a website glitch.

"ASML's recent earnings report disappointed many investors," explains Justin Zacks, vice-president of strategy and spokesperson at Moomoo Technologies Inc., a brokerage platform. "Struggles at Intel Corp. (INTC), one of its primary customers, and a slowdown in order bookings in part driven by changes in demand from China led the company to tweak its outlook for 2025."

To read more, please click here: 7 Best Semiconductor ETFs to Buy in 2024