Semiconductors are killing it, and you can thank China. The Semiconductor ETF (SMH) is just shy of the historic high it hit a year ago, and there's good reason for it: China.
div > div.group > p:first-child"> The five S&P companies with the biggest exposure to China are all semiconductors. Qualcomm, Micron, Qorvo, Broadcom, and Texas Instruments all get 40% to 60% of their revenues in China.As optimism for a U.S.-China trade deal rises, so have semiconductor prices.
Still the markets are pricing in a lot of optimism. Broadcom, for example, is a big Apple supplier. Softness in China, where Apple gets nearly 20% of its revenues, has been a concern. This whole play is based on stabilizing demand, not just in China but also in Europe.
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