Semiconductor stocks are up nearly 30 percent this year, and one expert says the advent of 5G could push them even higher.
div > div.group > p:first-child"> The VanEck Vectors Semiconductor ETF is up nearly 30 percent year to date, hitting a new 52-week high Wednesday after Nomura initiated coverage on chipmakers Intel and Advanced Micro Devices with buy ratings. Many well-known semiconductor stocks have locked in impressive year-to-date gains, even as some, including Nvidia and Micron, are still down for the last 12 months.
"The market is making a big bet on 5G and data sensor continuation," Schlossberg told CNBC's "Trading Nation.""I think if that bet comes through, it's a completely different ballgame. [The] internet of things, and chips becoming essentially embedded in everything that we do, could really create a much wider, bigger demand than we can imagine. So they could bust through those highs if that's indeed going to be the story of '19 to '20.
First, the technician pointed out that the VanEck Vectors Semiconductor ETF has run up 35 percent since the start of the year, from $82.64 on Jan. 3 to $112 at Wednesday's highs.
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