Semiconductor stocks will be in focus as U.S. President Joe Biden is slated to meet with China's President Xi Jinping in the coming weeks. The two leaders are scheduled to meet at an economic summit in San Franscico, the White House has said.
While no formal agenda has been put on the table, global security, climate, cybersecurity, and the ongoing demand and competition around semiconductors are among the likely topics of conversation. Of late, the relationship between Washington and Beijing has been shaky.
Semiconductors are especially in the spotlight amid growing tensions over Taiwan, which has stoked concern surrounding Taiwan Semiconductor Manufacturing Company (NYSE:TSM). Some other names investors should keep an eye on as the two superpowers meet are Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), Intel (NASDAQ:INTC) and Qualcomm (QCOM).
On a broader level, related semiconductor exchange-traded funds like VanEck Semiconductor ETF (SMH), iShares Semiconductor ETF (SOXX), Direxion Daily Semiconductor Bull 3x Shares (SOXL), and SPDR S&P Semiconductor ETF (XSD) should also be on the radar.
Moreover, China-focused ETFs may also find themselves in the crosshairs as discussions take place. Some funds to monitor are as follows: (KWEB), (CQQQ), (MCHI), (FXI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE), and (CHIX).
Semiconductor stocks in focus as Biden is set to meet with Xi Jinping
The article discusses the upcoming meeting between Presidents Joe Biden and Xi Jinping and its potential impact on semiconductor stocks.
seekingalpha.com
