Chipmaker ETFs jump on Qualcomm’s best day in 14 weeks

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Semiconductor exchange-traded funds with hefty exposure to Qualcomm Inc. rallied on Thursday after the company reported quarterly results that beat Wall Street expectations and said it was benefitting from 5G network adoption. Qualcomm shares were up nearly 13% at midday, putting Thursday on track to be its best day since July 30. That boosted the First Trust Nasdaq Semiconductor ETF , which has an 8.8% stake in the company, 4.2%. The iShares PHLX Semiconductor ETF , with 8.2% of its portfolio in Qualcomm, was up 3.8%. Another big holder of the shares, the Invesco Dynamic Networking ETF, , gained 3.5%. The gains for funds in the sector came mostly thanks to Qualcomm: other chipmaker stocks, like NVIDIA Corporation and Texas Instruments Inc. were up, but were underperforming the 2% gain in the Nasdaq Composite index
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