Philadelphia Semiconductor Index jumps 3.9% as chip stocks rally broadly

The Philadelphia Semiconductor Index surged 3.9% at the open on July 14, with AMD jumping 5.9% and Micron Technology gaining 5.2%, extending a sector rebound driven by AI chip demand.

The index opened at 12,837.38, climbing from a prior close of 12,347.78 on July 13, according to exchange data. The rally lifted all major semiconductor names: Nvidia rose 1.4%, TSMC added 2%, Broadcom gained 1.4%, and ASML advanced 3.4%.

AMD's 5.9% gain led the advance, followed closely by Micron at 5.2%, suggesting rotation toward computing and memory names within the sector. The SOX has recovered from a June 22 high of 14,634.72, after which it fell more than 15% through early July before stabilizing near 12,300.

The broad-based rally signals renewed conviction in AI-related semiconductor spending as the second-quarter earnings season approaches. Nvidia, the sector's bellwether, reports later this month, and its data center revenue trajectory will set the tone for the group. AMD trades at roughly 28x forward earnings, while Micron's memory pricing recovery remains a key swing factor for profitability. TSMC, the foundry behind most advanced AI chips including Nvidia's Blackwell and AMD's MI300 series, reports earnings on July 16, offering the next catalyst for the sector.

This article is for informational purposes only and does not constitute investment advice.