U.S. stocks move | Chip stocks surge across the board! The Philadelphia Semiconductor Index rises over 3.5%, AMD and Broadcom jump more than 6%

Glonghui July 6｜The Philadelphia Semiconductor Index rose more than 3.5%, with AMD and Broadcom up over 6%, Intel and Qualcomm up over 5%, TSMC up nearly 5%, ASML and Marvell Technology up more than 3%, and Micron Technology up nearly 3%. Just last night, Bank of America (BofA) released a report explicitly stating that the recent decline in the semiconductor sector is only a temporary adjustment, not a fundamental shift in AI demand. BofA believes that after the Philadelphia Semiconductor Index soared 88% in the second quarter, an 11% pullback in the third quarter perfectly corresponds to the sector's historical pattern of seasonal weakness, describing it as a "healthy reset" rather than a trend reversal. Samsung Electronics will announce its earnings on Tuesday. This chipmaker's share price has risen 165% so far this year, and its financial report will be closely watched.