"The iShares Semiconductor ETF has vaulted roughly 71% year to date, and individual leaders have run even harder. NVIDIA carries a market capitalization north of $5.3 trillion and trades around $226.57 after a roughly 80% one-year run. AMD has skyrocketed roughly 109% year to date and roughly 315% over the past year. Intel has piled on a roughly 227% YTD gain. Equipment supplier ASML is up roughly 43%, and Qualcomm has tacked on roughly 24%."
"The cooling worry is real. B200 Blackwell GPU rental prices fell roughly 30% over a weekend. NVDA sentiment swung from 72 bullish to 22 bearish inside 24 hours. QCOM sentiment has fallen from 82 very bullish in early May to 25 bearish by May 13. The technology-packed Nasdaq Composite isn't priced for hesitation, and traders know it."
"Here is where history does the heavy lifting. NVIDIA has lived through this pattern at least three times. In early 2017, after a vicious crypto-related rally, NVIDIA stalled. The adjusted close drifted from 2.69 in January 2017 to 2.57 by April before the stock vaulted to 3.57 by June and kept compounding for years. The cooling proved to be a temporary pause inside a longer uptrend."
"In 2019, trade-war jitters knocked t"
Semiconductor equities have delivered major gains, with the iShares Semiconductor ETF up about 71% year to date and several leading companies rising even more. NVIDIA, AMD, Intel, ASML, and Qualcomm have all posted strong performance after large one-year and year-to-date runs. Despite momentum, concerns are growing that the trade may cool. B200 Blackwell GPU rental prices fell about 30% over a weekend, and sentiment toward NVIDIA and Qualcomm shifted quickly from very bullish to bearish. The Nasdaq Composite is viewed as not priced for hesitation. Historical patterns show NVIDIA has previously experienced cooling periods before reaching new highs, suggesting the current pullback could be temporary.
Read at 24/7 Wall St.
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