SEAGATE ASSUAGES OPENAI FEARS, NON-AI SEMI DEMAND, FIVE EARNINGS AHEAD WILL DETERMINE FATE OF THE MARKET
By Nigam Arora
To gain an edge, this is what you need to know today.
Mag7 Earnings
Please click here for a chart of leveraged semiconductor ETF (SOXL).
Note the following:
- The chart shows an island reversal in semiconductors. In traditional technical analysis, this is a negative pattern and often indicates a top. Prudent investors should carefully watch semiconductors because semiconductors are the leading sector leading the stock market higher from the March 30 low.
- The chart shows semiconductors are moving higher in the early trade on good earnings from Seagate (STX) and NXPI (NXPI).
- Dutch semiconductor company NXPI reported doubling its first quarter profits.
April 29, 2026