To be sure, semiconductor rallies have proved short-lived in recent months. After soaring 48 percent between April 4 and April 19, the Philadelphia Semiconductor index has posted a series of retreats and advances, never regaining more than 61 percent of its year-ago value.
"Was this week's move in semis the mark of the bottom? Who knows," said Charles Crane, strategist for Victory SBSF Capital Management, which manages US$4 billion. "I'm not going to pin all my clients' portfolio hopes on the [general] remarks of a few folks, even the CEO of Intel."
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