Tech stocks have been experiencing a lot of ups and downs this month, with chip stocks showing signs of recovery despite a recent selloff linked to ASML.
The Nasdaq-100 is getting close to reaching its highest point ever, and the iShares Semiconductor ETF has gone up by 2%. Taiwan Semiconductor Manufacturing Company (TSMC) saw a remarkable 12% increase after reporting third-quarter results and guidance that exceeded market expectations.
This increase in semiconductor stocks is happening during a time when the tech sector typically experiences weakness in October.