WS #17028
The semiconductor sector is attempting a dead-cat bounce after the SMH ETF fell over 12% on Thursday, its worst day since March 2020. Nvidia and ASML are rallying on reports of TSMC pushing into advanced memory for Nvidia and general oversold conditions. However, analysts question if this is a true turnaround or just a premarket bounce, as the broader Nasdaq faces resistance at key technical levels.
Tech Rebound and AI Selloff
The semiconductor sector is attempting a dead-cat bounce after the SMH ETF fell over 12% on Thursday, its worst day since March 2020. Nvidia and ASML are rallying on reports of TSMC pushing into advanced memory for Nvidia and general oversold conditions. However, analysts question if this is a true turnaround or just a premarket bounce, as the broader Nasdaq faces resistance at key technical levels.