Semiconductor stocks have the longest streak of growth in 8 years. Who's in the lead?

Semiconductor stocks posted their longest streak of gains since 2017. The PHLX industry index rose for the ninth consecutive trading session on Sept. 16. And Micron shares, for example, rose for the tenth straight trading day, marking the best period for them since December 2019. The sector is being helped by the boom around artificial intelligence, and the main drivers of its growth this year remain not only Micron, but also Nvidia, Broadcom and TSMC.

The Philadelphia Stock Exchange Semiconductor Index (PHLX Semiconductor) rose 0.32% to 6,079.22 points at the close of trading on Tuesday. This became a record closing level for it.

The index ended the trading session in the plus for the ninth consecutive day: this is its longest series of growth since 2017, Bloomberg noted. Over the previous eight sessions, the index added about 9%, and it has gained nearly 22% since the beginning of 2025. By comparison, the Nasdaq 100 technology index has added about 15.5% over the same period.

The growth of PHLX Semiconductor on Tuesday was provided by shares of several companies. Thus, shares of ON Semiconductor jumped by 3% at the end of trading, and shares of Applied Materials - by 1.5%. Shares of Micron added 0.67% during the day. Thus, the securities rose in price for the tenth day in a row. This is their longest series of growth since December 2019, follows from Dow Jones Market Data cited by MarketWatch. In addition, Intel shares rose by 1.9%.

On the other hand, the securities of global AI processor market leader Nvidia fell 1.6% on Sept. 16, while Broadcom lost 1.1%.

Nvidia, Broadcom, TSMC and Micron have accounted for almost 70% of the growth in the PHLX index this year, emphasizes Bloomberg. The market value of each of them has grown by at least 30% since the beginning of the year.

The semiconductor index is rising amid a new wave of artificial intelligence boom, Bloomberg notes.

"Everything we see in the development of AI and technology in general is running on semiconductors," Wayne Kaufman, chief market analyst at Phoenix Financial Services, said in a statement to the publication. According to him, the latest Oracle report and the AI infrastructure agreement between Microsoft and Nebius were positive signals for the sector.

"Companies are making large orders with a horizon far into the future, indicating that they feel they have a serious backlog of capacity that will be needed for AI," Kaufman added. - That means the rally in semiconductors looks very sustainable, with Nvidia and Taiwan Semiconductor being the main beneficiaries, even if some stocks may be overheated in the short term."

This article was AI-translated and verified by a human editor