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Chip stocks in focus, as NVDA surpasses INTC

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Yahoo Finance’s Ines Ferre joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi on The First Trade to break down the latest movement in the semiconductor industry.

Video Transcript

BRIAN SOZZI: All right, welcome back to "The First Trade." Chip stocks seem to be in focus on Wall Street. Yahoo Finance's Ines Ferre is back with the details. Ines, quite the rally in chip stocks. Not a lot of people talking about it, but we're talking about it.

INES FERRE: We are talking about it, and take a look at what's happening this morning with Nvidia. Nvidia touching, of course, new highs again. Nvidia has been touching highs-- surpassing, actually yesterday, Intel as far as market cap is concerned.

We're also taking a look at AMD. AMD also had been rallying over the past seven days, up 7%.

If we take a look at the iShares Philadelphia Semiconductor, SOXX, you can see over the last five days up more than 3%. Over the last three months, up 28%.

Same kind of situation that we were talking about with SMH. That ETF up about 28% over the last three months.

And if we just take a look at the longer-- at this chart, what investors are talking about here is the higher high reaching right here. So over the last five days, have been rallying. Over the last three months, rallying. And, really, this is a positive sign because it's showing that it's sort of playing catch up, if you will, as far as-- as far as the broader rally is concerned with the tech stocks, with the FAANG stocks, really broadening the rally beyond the FAANG stocks. Then perhaps the S&P could then play catch up with the NASDAQ. Brian.

BRIAN SOZZI: While said, Ines. All right, we'll check back with you later.