SMH - VanEck Semiconductor ETF

Semiconductors were leading but now he thinks they are in stage three and institutions are getting out; possible new technology could change things, but generally cautious.

He wants to avoid the semiconductor/hardware industry due to momentum, hype, and euphoria.

Preferred over DRAM due to diversification; safer bet; long-term accumulation; flexibly reallocates holdings.

Only people worried about SMH destruction are traders, not long-term holders; semiconductor sector will be okay long-term.

Mentioned as having done very well for one host, but no explicit recommendation.

Thriving with spectacular earnings (400→600); positive mention but no explicit personal position stated.

Provides exposure to the semiconductor layer of AI, including leaders like Nvidia, TSMC, and AMD, reducing single-stock risk while capturing AI compute growth.

Gives exposure to the semiconductor layer including Nvidia, TSMC, and AMD. Reduces single-stock risk while capturing AI chip demand.

Host mentions the DRAM ETF as addressing the biggest bottleneck of them all - memory. He views memory as extremely important for the AI trade.

Semiconductor sector described as overextended and unsustainable. Entire sector down 7-8% on the day. Intel up from $40 to $140 in two months, AMD nearly tripled. Ross implies this sector is due for a pullback.