NYSEARCA:SMH
HOLDRs Semiconductor (SMH)
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Technical Analysis 
Jul 5, 2026, 12:00 amThis summary was created by AI, based on 1 opinions in the last 12 months.
The semiconductor sector, particularly represented by HOLDRs Semiconductor (SMH-N), is currently experiencing significant market dynamics. Experts note a strong inclination towards call options compared to puts, which is atypical after a considerable upward trend in stock prices. In the short term, there's a bearish outlook on the sector, indicating a cautious approach is necessary for traders. However, on a long-term horizon, experts encourage a bullish stance, suggesting investors look for opportunities to buy during dips. Overall, the market sentiment appears mixed, necessitating careful navigation for both short-term trades and long-term investments.
Top 2 or 3 ETFs until 2022. He likes SMH-N - semiconductors. XLF-N still has upside as the financials have underperformed. Canadian banks stick out as well. They are sitting on a whack of cash and have not been able to raise dividends. They will probably take some loan loss provisions back into earnings soon.
Semiconductors is a fast-moving sector with high valuations. Go with the 5G players. QCOM, which he owns, goes to the top of the list on valuation and potential growth. AMD has done exceptionally well, though valuation is a bit extreme. Not a bad way to play is through the SMH ETF. Nvidia has had the highest growth, but valuation also extreme. He wouldn't chase INTC, even though it's cheap.
Companies like Apple are now bringing semi-conductors back in-house and the sector is seeing many changes. It's hard to see who will be the winner. The sector has run tremendously so he would wait for a pullback before putting money in.
Larry Berman CFA, CMT, CTA
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HOLDRs Semiconductor (SMH) Frequently Asked Questions
What is HOLDRs Semiconductor stock symbol?
HOLDRs Semiconductor is a American stock, trading under the symbol SMH (previously SMH-N on Stockchase) on the NYSE Arca (SMH). It is usually referred to as AMEX:SMH or SMH
Is HOLDRs Semiconductor a buy or a sell?
In the last year, no analyst issued a Buy, Sell, or Hold rating on SMH (previously SMH-N on Stockchase) on Stockchase. Read the latest expert commentary for HOLDRs Semiconductor.
Is HOLDRs Semiconductor a good investment or a top pick?
HOLDRs Semiconductor was recommended as a Top Pick by Howard Sutton on 2003-09-12. Read the latest stock experts ratings for HOLDRs Semiconductor.
Why is HOLDRs Semiconductor stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts' recommendations for HOLDRs Semiconductor.
Is HOLDRs Semiconductor worth watching?
HOLDRs Semiconductor is followed by 29 investors on Stockchase and is a trending stock that is worth watching.
What is HOLDRs Semiconductor stock price?
On 2026-07-02, HOLDRs Semiconductor (SMH) stock closed at a price of $594.92.
He's used this ETF forever. If you're looking for something more nuanced, there are some AI-focused ones (but they're not just chips).
In the chip sector right now, there's a massive skew to call options versus puts. Calls are priced higher than puts, which is very unusual after a significant run of the kind we've had. Short term, he's bearish on the sector for a trade. Long term, you have to be bullish and buy dips. Right now, be very cautious.