Intel Spurs Semiconductor Rally (INTC, AMD, NVDA, ELX, EZCH, BRCD, ARMH, FCS, OIIM)

Semiconductor shares are spiking higher today after chip giant Intel (INTC) topped quarterly earnings estimates. The firm posted its best quarter ever, and while the stock has pared gains throughout the session, optimism is boosting shares elsewhere in the semiconductor space.

As a whole, the Digital Semiconductor Stocks Index is ahead fractionally for the session after Intel’s report. Suppressing the party, Morgan Stanley has issued tactical “Sell” recommendations on Advanced Micro Devices (AMD) and NVIDIA (NVDA), according to Barron’s Tech Trader Blog. Shares of Advanced Micro Devices are selling off down -1%, while NVIDIA gains fractionally.

Elsewhere, the Specialty Semiconductor Stocks Index is also ahead on the heels of the Intel news. Emulex (ELX) is up by over 2% on strong volume. Volume is also spiking with EZChip Semiconductor (EZCH) with shares also up over 1%. RBC started coverage on the EZChip with an outperform ranking yesterday. Brocade Communication Systems (BRCD) is sitting out the rally, off -2% on no apparent news.

ARM Holdings (ARMH) and Fairchild Semiconductor (FCS) are among top performers in the Analog and Mixed Signal Semiconductor Stock Index today. The latter will report its own earnings tomorrow morning. O2Micro International (OIIM) is trading at twice its normal volume, but traders appear mixed on the stock, sending it higher only fractionally.

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Tags: AMD, ARMH, BRCD, ELX, EZCH, FCS, INTC, NVDA, OIIM