New York, June 15, 2026, 13:02 EDT
• SMH traded above $646 around midday Monday, after finishing at $619.96 on June 12.
• Lam Research, Marvell, Arm, ASML and Kulicke & Soffa extended their gains, building on last week’s chip rally.
• Market strength continued as buyers stayed with AI infrastructure names.
VanEck Semiconductor ETF surged Monday as SMH kept pushing to new highs. Buyers moved back into AI chip names after last week’s drop. SMH traded at $646.27 by 12:47 p.m. ET, up 4.2% on the day. The ETF hit $648.02 earlier. SMH closed at $619.96 on June 12, securing an 8.8% weekly jump according to 24/7 Wall St.
Stocks jumped, with traders moving into risk assets. Reuters reported Wall Street’s top indexes rose Monday on word of a tentative deal between the U.S. and Iran to stop the Middle East war and get the Strait of Hormuz flowing again, which sent crude down. The Philadelphia Semiconductor Index was up 4.5% to a fresh high. Nvidia gained 3%. Micron surged 9.2%, according to Reuters.
Chip stocks rallied across the board. Lam Research jumped 6.1% to $389.26. Marvell Technology rose 7.6%, closing at $300.91. Arm advanced 5.0% to $400. ASML climbed 1.9% to $1,898.05. Kulicke & Soffa moved up 1.0% to $114.28. All of these stocks were included in 24/7 Wall St.’s latest semiconductor break…, which called out AI capex and demand at chip equipment, design and interconnect companies.
SMH is still rallying this year. VanEck shows the ETF’s net asset value at $619.47, putting year-to-date returns at 72.02%. Net assets totaled $71.92 billion as of June 12. The fund tracks the MVIS US Listed Semiconductor 25 Index, which covers semiconductor and chip equipment firms, according to VanEck.
Earnings are still in focus on the tape. Lam Research put up $5.84 billion in March-quarter revenue and non-GAAP diluted EPS of $1.47. “Lam delivered record revenue and EPS in the March quarter as AI-driven demand reshapes the semiconductor industry,” CEO Tim Archer said in the earnings release. Marvell reported revenue of $2.418 billion for its fiscal first quarter, with data center business covering 76% of that. CEO Matt Murphy cited “exceptional AI-related bookings” and said Marvell is lifting its outlook for fiscal 2027 and 2028, according to Marvell’s release. PR Newswire
Expectations are high. FX Leaders reported that SMH had already surged more than 50% in 2026 before this week, and 24/7 Wall St. said the ETF moved from $360 at the start of the year to $638 by June 3. Investors were still buying AI stocks on Monday, but it’s still up in the air if chipmakers and big cloud customers can keep demand high enough for this kind of move.
