Analyst: The surge in the US stock market semiconductor sector in April was “completely detached from fundamentals”

Chip manufacturer Intel soared by 114% this month with impressive financial results, leading the S&P 500 components; storage giants SanDisk, Seagate Technology, and ON Semiconductor also rose significantly. Jones Trading analyst Mike O’Rourke stated that the semiconductor sector’s surge in April was “completely detached from fundamentals,” adding, “Even in the face of the standoff in the Strait of Hormuz, stock investors remain unconcerned.”