The Semiconductor Industry Association said today that worldwide sales of semiconductors rose 2.7% in September as compared to August.
Sales rose to $25.8 billion, compared to $25.1 billion in August.
On a year-to-date basis, sales rose 2.2%.
An association official said that while global economic uncertainty creates limited visibility for the remainder of the year, recent positive indicators and developments in the U.S. and Europe are encouraging for the industry.
Progress in Japan's earthquake and tsunami recovery efforts drove sales to increase 13.7% on a quarter-over-quarter basis there.
Strong demand for automotive applications and mobile processing in smart phones, tablets and e-readers added to a quarter-over-quarter increase in sales.
The iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ:SOXX) is trading down over 1.7% following the report.
The top holding in the fund, Intel (NASDAQ:INTC) is trading down 1.3%, while #2 holding Texas Instruments (NASDAQ:TXN) trades down 1.3% as well.
Applied Materials (NASDAQ:AMAT) is trading down over 1.2%, rounding out the top three holdings in the fund.
The Semiconductor HOLDRS (NYSE:SMH) fund, with different weightings of the same three stocks, is trading down over 1.5% Monday.
The Proshares Ultra Semiconductors (NYSE:USD) ETF is trading down about 3% Monday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.