🟢 State Street SPDR S&P Semiconductor ETF is trading 2.4% up as Intel, Micron upgrades fuel sector rebound

State Street SPDR S&P Semiconductor ETF is trading 2.4% up today, leading a broader tech recovery as specific company upgrades bolster the semiconductor sector.

• Intel (INTC) surged after BofA Securities upgraded the chipmaker to Buy from Underperform, citing its strategic position in advanced semiconductor manufacturing.
• Micron Technology (MU) climbed after Wolfe Research significantly raised its price target on expectations of higher memory pricing through 2027.
• The rebound follows a sharp selloff earlier in the week driven by concerns over inflation and the sustainability of AI-related spending.