Asia stocks got hammered on semi-conductor concerns, and US stocks were also weaker across the board. US Treasuries were stable, as inflationary expectations remain elevated even though June CPI data was better than expected. Fed chair Warsh spoke before Congress, and remains hawkish,

This article looks at the semi-conductor value chain and explores the opportunities for investors. It's not easy to evaluate many of the companies, and the valuations are stretched already.

Concerns regarding tariffs and trade rhetoric faded a bit in the second half of the week in the U.S., which gave way to decent economic data and a strong start to the earnings season. The S&P 500 and NASDAQ hit record highs (again). Yields were under modest pressure at the long end of the curve.

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US stocks and gold hit more record highs. S&P 500 earnings mixed: banks strong, chip companies mixed, luxury struggles.

This article takes a quick look at the semi-conductor value-chain, including chip designers, fabricators and chip machinery makers.