US Stock Market Move | Semiconductor concept stocks rose broadly. United Microelectronics Corp. Sponsored ADR (UMC.US) gained over 4%.

On Tuesday, semiconductor concept stocks rose broadly. United Microelectronics Corp. Sponsored ADR (UMC.US) gained over 4%, KLA Corporation (KLAC.US) rose 3%, and ASML Holding NV ADR (ASML.US), Applied Materials (AMAT.US), and ASE Technology Holding (ASX.US) each gained over 2%. In a semiconductor equipment research report released on September 28, Barclays PLC Sponsored ADR explicitly rebutted the market's pessimistic view on the recent pullback in the semiconductor sector. Analyst Tom O'Malley and his team believe that the current stock price decline is more of a normal correction after momentum trading, rather than a crack in the industry's fundamentals. On the contrary, with the implementation of AI application scenarios and improving profitability, the industry's long-term growth logic remains solid.