VanEck Semiconductor ETF Rallies Back From $1.3 Trillion Wipeout, Fueled by Taiwan’s Historic GDP and Intel-Apple Deal
20.06.2026 - 16:28:21 | boerse-global.de
Less than three weeks after a single Broadcom forecast erased over $1.3 trillion from the chip sector, the VanEck Semiconductor UCITS ETF is within striking distance of a fresh all-time high. The fund closed Friday at €107.06, just 1.78% below its 52-week peak of €109.00, powered by a weekly gain of better than 6%. The year-to-date advance now stands at nearly 95%, meaning anyone who bought in 12 months ago has roughly tripled their money.
Taiwan Semiconductor Manufacturing (TSMC), the ETF’s second-largest holding with a 9.15% weight, delivered the strongest boost. Its US-listed shares climbed 6.9% during the shortened trading week. The move came after Taiwan revised first-quarter 2026 GDP growth to 14.55% — the fastest quarterly expansion in almost 48 years — and lifted its full-year forecast to 9.64%, which would be the highest since 2010. TSMC management now expects revenue to surge more than 30% this year, direct evidence of the insatiable demand for AI processors.
Intel added a second powerful tailwind. The stock jumped 10.6% to $133.99 after President Trump announced that Apple would cooperate with Intel on US chip design and production. Neither company confirmed the details, but the rally far outpaced Advanced Micro Devices’ 4.9% gain, even though Citi had just upgraded AMD on the view that its AI potential remains undervalued. Intel now accounts for 7.44% of the ETF portfolio.
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The broad-based advance also featured KLA Corporation, whose shares were boosted by a string of earnings beats, a stock split and a hefty dividend increase. That helped lift the entire fund to within 2% of its record, though the RSI at 65.4 suggests the rally still has room to run before becoming overbought. The 50-day moving average of €86.57 sits nearly 24% below the current price, underscoring the momentum.
The speed of the recovery is remarkable given the scale of the June 5 rout. Broadcom’s cautious third-quarter AI chip revenue forecast of $16 billion — against analyst expectations of about $17.2 billion — triggered a 10% plunge in the PHLX Semiconductor Index, the worst single-day loss since March 2020. The selloff erased $1.3 trillion in market value in a single session. Since then, the Nasdaq Composite has gained 28% and the S&P 500 18.8%, but the VanEck chip fund has outperformed both.
Fundamentals remain supportive. Consulting firm Deloitte projects global semiconductor industry revenue of roughly $975 billion this year, with nearly half coming from AI chips alone. Nvidia, the ETF’s largest position at 14.17%, reported fiscal 2026 revenue of $215.9 billion, up 65%. Broadcom, despite the forecast hiccup, delivered second-quarter AI chip revenue of $10.8 billion, a 143% increase. Micron Technology, AMD and Intel round out the top-five holdings.
The ETF, which manages $9.4 billion in assets and charges 0.35% in annual fees, was Europe’s first UCITS-compliant pure semiconductor fund. Technically, the path ahead looks clear: the 200-day moving average at €62.52 shows just how dramatically the sector has been re-rated over the past year, and the immediate target is the €109 all-time high. If that level gives way, a new record is all but certain.
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