7 Chipmaker Stocks Set To Gain As Trump Delays Tariff Blow On Key China Tech Imports: Bank Of America

A temporary delay in new U.S. tariffs on tech imports from China sparked a broad semiconductor rally.

What Happened: The iShares Semiconductor ETF (NASDAQ:SOXX) jumped 2.5% by 9:40 a.m. ET Monday, extending its rally to 19% from last week's lows.

Monday’s top individual gainers within the SOXX ETF included:

Entegris Inc. (NASDAQ:ENTG) surged 6.7% to $74.37

Intel Corp. (NASDAQ:INTC) rose 6.1% to $20.95

Micron Technology Inc. (NASDAQ:MU) gained 5.8% to $73.56

Qorvo Inc. (NASDAQ:QRVO) added 5.1% to $59.16

MKS Instruments Inc. (NASDAQ:MKSI) climbed 4.2% to $68.25

Universal Display Corp. (NASDAQ:OLED) rose 3.8% to $117.02

Texas Instruments Inc. (NASDAQ:TXN) advanced 3.7% to $153.01

In a research note published on Monday, Bank of America analyst Vivek Arya called the one-to-two-month delay on electronics tariffs “incrementally positive.” The delay, which allows industry debate before the White House finalizes so-called “sectoral” tariffs targeting semiconductors, was enough to trigger sharp gains in chip stocks.

Sentiment also improved following the U.S. Customs and Border Protection's decision Friday to exclude several electronic categories—such ...