This tracks how US Semiconductors is performing against the S&P 500: the relative-strength read traders use to find themes gaining momentum and the strongest stocks within them. Look for three things: whether it is gaining or losing ground on the index, whether the move is broad or led by a few large names, and which stocks lead on relative strength.
Current read · as at 12 Sept 2026
US Semiconductors is underperforming the S&P 500 but gaining ground (the improving zone of the rotation chart). It is down 3.0% over the past month but up 61.6% year to date. 9 of 20 stocks are above their 50-day average. On 3-month relative strength, AMD.US, NVDA.US and TER.US lead the theme.
Relative strength is measured against S&P 500, centred at 100. Above 100 means it outpaced the benchmark.
Performance charts
Rebased to 100 vs S&P 500
End of day
US Semiconductors vs S&P 500
Rising = outperforming
100 = matches benchmark. Above = outpacing it; below = lagging.
What's underneath the leaders
End of day
Latest-day drivers
- ON.US+8.51%+0.43%
- ADI.US+4.85%+0.24%
- NXPI.US+4.48%+0.22%
Top 3 account for 34% of the total move.
Contribution is each holding's weight times its one-day move.
Emerging leaders (3-month rank)
- 1AMD.US+2
- 2NVDA.US+18
- 3TER.US+15
- 4TSM.US+13
- 5MU.US-1
Rank 1 = strongest 3-month move. Delta is the rank change; positive means improving.
Breadth and Effective N measure how widely the basket is moving right now — a participation gauge, not a forecast.
Constituents
Weights and contribution to the basket move
ADI.US | Analog Devices Inc | $378.78 | +4.85% | 5.0% | +0.24% |
AMAT.US | Applied Materials Inc | $456.49 | +0.55% | 5.0% | +0.03% |
AMD.US | Advanced Micro Devices Inc | $516.13 | +2.49% | 5.0% | +0.12% |
ARM.US | Arm Holdings plc American Depositary Shares | $264.79 | +4.17% | 5.0% | +0.21% |
ASML.US | ASML Holding NV ADR | $1,698.30 | +0.64% | 5.0% | +0.03% |
AVGO.US | Broadcom Inc | $361.99 | +0.32% | 5.0% | +0.02% |
INTC.US | Intel Corporation | $102.94 | +2.61% | 5.0% | +0.13% |
KLAC.US | KLA Corporation | $180.64 | +1.95% | 5.0% | +0.10% |
LRCX.US | Lam Research Corp | $298.22 | +0.07% | 5.0% | +0.00% |
MCHP.US | Microchip Technology Inc | $74.20 | +3.66% | 5.0% | +0.18% |
MPWR.US | Monolithic Power Systems Inc | $1,234.46 | +4.08% | 5.0% | +0.20% |
MRVL.US | Marvell Technology Group Ltd | $236.10 | +4.03% | 5.0% | +0.20% |
MU.US | Micron Technology Inc | $975.26 | -0.22% | 5.0% | -0.01% |
NVDA.US | NVIDIA Corporation | $218.29 | -0.03% | 5.0% | -0.00% |
NXPI.US | NXP Semiconductors NV | $236.62 | +4.48% | 5.0% | +0.22% |
ON.US | ON Semiconductor Corporation | $76.14 | +8.51% | 5.0% | +0.43% |
QCOM.US | Qualcomm Incorporated | $181.97 | +2.88% | 5.0% | +0.14% |
TER.US | Teradyne Inc | $379.72 | +2.57% | 5.0% | +0.13% |
TSM.US | Taiwan Semiconductor Manufacturing | $433.24 | +1.22% | 5.0% | +0.06% |
TXN.US | Texas Instruments Incorporated | $268.70 | +3.82% | 5.0% | +0.19% |
ADI.US
Analog Devices Inc
- Last
- $378.78
- 1D
- +4.85%
- Weight
- 5.0%
- Contribution
- +0.24%
AMAT.US
Applied Materials Inc
- Last
- $456.49
- 1D
- +0.55%
- Weight
- 5.0%
- Contribution
- +0.03%
AMD.US
Advanced Micro Devices Inc
- Last
- $516.13
- 1D
- +2.49%
- Weight
- 5.0%
- Contribution
- +0.12%
ARM.US
Arm Holdings plc American Depositary Shares
- Last
- $264.79
- 1D
- +4.17%
- Weight
- 5.0%
- Contribution
- +0.21%
ASML.US
ASML Holding NV ADR
- Last
- $1,698.30
- 1D
- +0.64%
- Weight
- 5.0%
- Contribution
- +0.03%
AVGO.US
Broadcom Inc
- Last
- $361.99
- 1D
- +0.32%
- Weight
- 5.0%
- Contribution
- +0.02%
INTC.US
Intel Corporation
- Last
- $102.94
- 1D
- +2.61%
- Weight
- 5.0%
- Contribution
- +0.13%
KLAC.US
KLA Corporation
- Last
- $180.64
- 1D
- +1.95%
- Weight
- 5.0%
- Contribution
- +0.10%
LRCX.US
Lam Research Corp
- Last
- $298.22
- 1D
- +0.07%
- Weight
- 5.0%
- Contribution
- +0.00%
MCHP.US
Microchip Technology Inc
- Last
- $74.20
- 1D
- +3.66%
- Weight
- 5.0%
- Contribution
- +0.18%
MPWR.US
Monolithic Power Systems Inc
- Last
- $1,234.46
- 1D
- +4.08%
- Weight
- 5.0%
- Contribution
- +0.20%
MRVL.US
Marvell Technology Group Ltd
- Last
- $236.10
- 1D
- +4.03%
- Weight
- 5.0%
- Contribution
- +0.20%
MU.US
Micron Technology Inc
- Last
- $975.26
- 1D
- -0.22%
- Weight
- 5.0%
- Contribution
- -0.01%
NVDA.US
NVIDIA Corporation
- Last
- $218.29
- 1D
- -0.03%
- Weight
- 5.0%
- Contribution
- -0.00%
NXPI.US
NXP Semiconductors NV
- Last
- $236.62
- 1D
- +4.48%
- Weight
- 5.0%
- Contribution
- +0.22%
ON.US
ON Semiconductor Corporation
- Last
- $76.14
- 1D
- +8.51%
- Weight
- 5.0%
- Contribution
- +0.43%
QCOM.US
Qualcomm Incorporated
- Last
- $181.97
- 1D
- +2.88%
- Weight
- 5.0%
- Contribution
- +0.14%
TER.US
Teradyne Inc
- Last
- $379.72
- 1D
- +2.57%
- Weight
- 5.0%
- Contribution
- +0.13%
TSM.US
Taiwan Semiconductor Manufacturing
- Last
- $433.24
- 1D
- +1.22%
- Weight
- 5.0%
- Contribution
- +0.06%
TXN.US
Texas Instruments Incorporated
- Last
- $268.70
- 1D
- +3.82%
- Weight
- 5.0%
- Contribution
- +0.19%
Last price shown at full precision. Contribution is each holding's weight times its one-day move. A dash marks data pending after the latest end-of-day refresh.
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Equal weighted. Equal-weighted basket seeded from US-listed semiconductor and semiconductor-equipment companies, screened nightly from end-of-day data. Active US common stocks only, with a market cap of at least USD 500 million and a 90-day average daily value traded of at least USD 2 million, top 20 by market cap. NVDA and AVGO are also seeded in US Mega-cap Tech.