With SanDisk (SNDK) up 4000%, Western Digital Corp (WDC) up 900% and Micron Technology (MU) up 680% in the past year, I guess every investor who prostrated before the Chip Gods has every reason now to cash out now that memory Xanadu has been attained.
The Philly Chip Index 50 day moving average is now 35% below its current level, so this is where strategic support lies when the bubble du jour bursts as they always do after the mother of all parabolic moves. So the real miracle of the Han River was really South Korea KOSPI, up 186% in the past year, thanks to Samsung and Hynix. The Kospi is probably the cheapest backdoor into the hottest trade of the world now that an Iran ceasefire looks credible.
Yet Trump is Trump and abhi Delhi Durast since we must wait for Nvidia and Broadcom to speak to us from Mount Olympus even though it was wonderful to hear Lisa Su speak today and witness AMD leapfrog 17% into the inner sanctum of Planet Nirvana!
Also published on Medium.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
