Tuesday's midterm vote is behind us, and chip stocks came into it bruised. The VanEck Semiconductor ETF (NASDAQ:SMH) ended Election Day at $518.52. That was around 22% under the fund's highest close ever, set on June 22, but it still left the fund up about 44% in 2026.
What have chip stocks usually done over the 12 months after a midterm vote?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
I went back to the PHLX Semiconductor Index, a widely watched chip benchmark with daily data going back far enough to cover the past eight midterms. For each one, I compared the index's close on Election Day to its close on the same date a year later, on price alone.
The record's impressive. But I think where chip stocks start this time is a reason to lower expectations.
#election #midterm
What have chip stocks usually done over the 12 months after a midterm vote?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
I went back to the PHLX Semiconductor Index, a widely watched chip benchmark with daily data going back far enough to cover the past eight midterms. For each one, I compared the index's close on Election Day to its close on the same date a year later, on price alone.
The record's impressive. But I think where chip stocks start this time is a reason to lower expectations.
#election #midterm
10 hours ago
