With the "framework" for a U.S.-China trade deal now reportedly established, the VanEck Semiconductor exchange-traded fund (ETF) (SMH) is up 2% and at a record high of $358.21, on the prospect of avoiding the new 100% tariff on China exports. U.S.-based chipmakers Advanced Micro Devices Inc (NASDAQ:AMD), Broadcom Inc (NASDAQ:AVGO) and Micron Technology Inc (NASDAQ:MU) are all making similar moves today.
AMD is up 1.1% to trade at $255.75, nabbing a record high of $258.66 out of the gate. The shares are now 110% higher in 2025, extending their recent surge off a bullish flag pattern that was formed from a massive OpenAI-driven bull gap on Oct. 6.
Broadcom stock is 2.2% higher to trade at $361.41, not far from its own record high of $374.23 on Sept. 11. AVGO -- a historical outperformer in the fourth quarter -- is now 55.8% higher year to date, with support in place at its ascending 50-day moving average.
Micron, similar to Advanced Micro Devices, hit a record high of $224.98 this morning and is up 1.2% to trade at $221.74 at last check. The shares are also enjoying a price-target hike to $275 from $240 from Citigroup. Year to date, the stock is now 164% higher, and hasn't breached its 20-day moving average on a closing basis since Sept. 3.
