Semiconductor giant Broadcom Inc. (AVGO) is the largest component of the iShares PHLX Semiconductor ETF (SOXX). This makes the stock a key benchmark, so as Broadcom goes, SOXX goes. However, the other top holdings include:
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Broadcom announced earnings on Thursday after the market closed and surged on Friday, closing up 8.2% at $290.29 after the company delivered impressive earnings results. The closing price also marked a new 52-week highs.
PHLX Semiconductor ETF (SOXX) is up 18% year to date.
The SOXX trending higher is a good thing for the economy and a great indicator of economic strength because everything uses chips, from
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