|Bid||53.50 x 800|
|Ask||0.00 x 3200|
|Day's Range||63.49 - 64.57|
|52 Week Range||60.48 - 83.52|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.15|
|Expense Ratio (net)||0.67%|
For the first time in nearly three decades, Pacific rim leaders were unable to reach agreement on a joint declaration regarding world trade at the Asia-Pacific Summit held in Papua New Guinea over the weekend. The world's two largest economies, the United States and China, refused to budge on language in a final statement. The United States wanted the declaration to use decisive wording about unfair trade practices, such as intellectual property theft and forced technology transfers, which it accuses China of engaging in.
Value investors who are looking for a deal should look to international ETFs as global stocks are now trading at their lowest valuations in over two years. Major indices in Europe, Japan, Shanghai, Hong Kong, Argentina and Canada are all trading in correction territory, or off at least 10% from a recent high, while the U.S. is testing that precipice of after a selloff last week wiped out all of the S&P 500 and Dow Jones Industrial Average’s gains for the year, the Wall Street Journal reports. The selling and pessimism have also pushed the forward price-to-earnings ratio of the MSCI All Country World Index, which follows 23 developed and 24 emerging markets, to around 18, its lowest level since early 2016.
Semiconductor ETFs (SMH) continued to outperform the market despite the US-China trade war. According to the SIA (Semiconductor Industry Association), the first half of 2018 was strong for the semiconductor industry. Worldwide semiconductor sales rose over 20% YoY (year-over-year) in H1 2018 despite the fact that the industry reported record sales of $412 billion in H1 2017.
Investors should keep a close eye on the ETFs that are especially volatile this week with key events like Fed and ECB meeting as well as US-North Korea summit.
Wall Street analysts have expressed mixed views of Advanced Micro Devices (AMD) and NVIDIA (NVDA) and have given consensus “hold” recommendations for both stocks. AMD has a consensus price target of $13.0 and is currently trading at $12.4, while NVIDIA has a price target of $234 and is trading above $236.0.