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Author Message   Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3793 Registered: 05-2011 Rating: N/A Votes: 0 Posted on Tuesday, December 07, 2021 - 1:18 pm:    Industry Briefing: Semiconductors (549.45 +25.68) Seeing a huge move in the semiconductor space today, evidenced by the 4.9% gain in the Philadelphia Semiconductor Index. Catalysts for the outperformance include: Positive comments out of Morgan Stanley regarding Apple's (AAPL 171.30, +5.97, +3.6%) growth opportunities in the augmented reality and autonomous vehicle spaces. That view has been a driver of Apple's "halo effect," which typically translates into residual gains for component suppliers. A snapback rally effort in growth stocks that have suffered sharp losses of late on concerns about rising interest rates. Intel (INTC 53.47, +2.48, +4.9%) announcing plans to spin-off its Mobileye unit through an IPO in mid-2022. It is being touted as a potential $50 billion value creation opportunity for Intel, which is stoking interest in other companies providing chips and technologies for the auto market. Burgeoning optimism that the Omicron variant won't be as bad as feared and won't impede supply chains in any meaningful way. Momentum trading. Notable Movers: Marvell Technology (MRVL 91.50, +6.07, +7.1%): breaking out to new all-time high on heavier than average volume On Semiconductor (ON 66.33, +4.43, +7.1%): hitting new all-time high, but volume still below average Qorvo (QRVO 163.14, +10.41, +6.8%): Nice rebound try after stock dropped ~29% from August high NXP Semiconductors (NXPI 238.57, +14.29, +6.4%): breaking out to new all-time high following 8-month consolidation range; volume still somewhat light Applied Materials (AMAT 156.75, +9.37, +6.4%): testing its all-time high after finding support yesterday at its 50-day moving average NVIDIA (NVDA 319.55, +19.18, +6.4%): Seeing renewed buying interest after dropping as much as 16% from Nov. 29 high Lam Research (LRCX 706.86, +39.30, +5.9%): back testing all-time high on somewhat light volume after near 10% drawdown in previous three sessions Micron (MU 86.84, +4.39, +5.3%): Staying in rebound mode after stock found support yesterday in flirtation with technical support at 200-day moving average Qualcomm (QCOM 184.23, +8.78, +5.0%): back near its highs for the year after 8% pullback in previous three sessions Intel (INTC 53.47, +2.48, +4.9%): trading at highest level since October on huge volume following news of Mobileye IPO plan