The SPDR S&P Semiconductor ETF (XSD) was up 3.8%. The ETF has a 4.3% exposure to Advanced Micro Devices (AMD - Get Report) which was up 6% to $6.80 even as it cut its revenue forecast for the third quarter, citing poor PC demand. Markets, however, gave the stock a thumbs up as the lower demand was already priced in.
The iShares North American Semiconductor ETF (IGW) also rose nearly 4%. The fund has an exposure to prominent chipmakers including Intel (INTC - Get Report), Micron (MU - Get Report), Applied Materials (AMAT - Get Report) and Cree (CREE).
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