Semiconductor stocks rallied on Friday, with the sector climbing in its fifth straight daily advance and on track for its best week since July. The iShares PHLX Semiconductor ETF added 1.7% to $155.50, putting it on track for a record close and within points of an intraday record hit in June. Thus far this year, the fund is up nearly 27%, with 4.6% of that coming this week. Among the fund’s components, all but one were in positive territory on Friday, with Nvidia Corp. the biggest percentage gainer, up 5.2% after Evercore ISI raised its price target on the company to $250 from $180. Among others, ON Semiconductor Corp rose 3.1% while Advanced Micro Devices was up 2.9%.
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