Taking market share from Intel and catching up to it. They just had a breakout from a 10-year range. The chip sector will be fine, but he prefers the communication-chip side.

This is effectively a processing company. In terms of the biggest boss on the street, it would be Intel, and this would be considered the baby in the corner. All the semis are up this year. When you get a cyclical decline in the semi space, and we are long overdue on one of those, that is when you want to buy this. He would just wait now.

Hasn’t been one of the leaders in a fiery, hot area in the semiconductor space. He would rather own something like Taiwan Semiconductor (TSM-N) or Applied Materials (AMAT-Q) which has dropped down in the last little while. The valuations are not great compared to some of the other names. He would look to other spaces.

It is tough to not like on what they have done in one year. Semis have been phenomenal, and this company has been right in there. It has consolidated more in the last little while. He got a little more cautious on tech a number of months ago, when it started to break down on the relative. However, semis have really come on and the numbers are looking okay. He would have a hard time arguing against this one. However, the valuation is tough, which is what would trip him up. He would prefer an ETF that replicates the stocks, and give you a basket approach.

This was one of his major Shorts at the start of the year and he is not doing well on it. Thinks it has come too far, too fast. It’s a competitive world out there with their components. Historically this has been a volatile stock. He would be cautious on this and not take a new position.

All tech stocks have run up substantially, and are starting to run out of steam. They’ve run up because of optimism about China as well as the opportunity to repatriate capital off the back of Trump’s regime. You might want to wait and see what happens. Typically, semiconductor stocks are about 3 years in length, and we are about 5 years in this one.