There Are Overlooked AI Stocks as Chip Giants Dominate, According to Carmignac’s Naomi Waistell
Published . Updated .
This report is about semiconductors and AI and big tech.
Directly affected
- No company is named in this report.
Indirectly affected
- SMH VanEck Semiconductor ETF-12.3% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story.
- SOXX iShares Semiconductor ETF-15.7% 30d
iShares Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story.
- QQQ Invesco QQQ-2.6% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- MSFT Microsoft+4.0% 30d
Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- GOOGL Alphabet-21.2% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- ASML ASML Holding N.V+1.0% 18d
ASML Holding N.V (special industry machinery): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
- NVDA Nvidia-9.9% 30d
Nvidia (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
- TSM Taiwan Semiconductor Manufacturing-8.8% 30d
Taiwan Semiconductor Manufacturing (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| SMH | -7.89% | -4.67% | base | -1.14% | -7.96% | after close | after close |
| SOXX | -8.88% | -5.71% | base | -1.55% | -9.68% | after close | after close |
| QQQ | -2.90% | -1.86% | base | -1.64% | -4.83% | after close | after close |
| MSFTNo price data for this ticker | — | — | — | — | — | — | — |
| GOOGLNo price data for this ticker | — | — | — | — | — | — | — |
| ASML | -6.17% | -4.45% | base | +0.69% | -5.93% | after close | after close |
| NVDA | -1.43% | +0.31% | base | -0.76% | -4.91% | after close | after close |
| TSM | -6.22% | -3.47% | base | -1.82% | -7.65% | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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There Are Overlooked AI Stocks as Chip Giants Dominate, According to Carmignac’s Naomi Waistell Morningstar
Source: Morningstar
Semiconductors
| Company | When | Move | Status |
|---|---|---|---|
| ASML | that day | +0.69% | final price |
| ASML | the next day | -5.93% | final price |
| ASML | three days earlier | -4.45% | final price |
| ASML | five days earlier | -6.17% | final price |
| NVDA | that day | -0.76% | final price |
| NVDA | the next day | -4.91% | final price |
| NVDA | three days earlier | +0.31% | final price |
| NVDA | five days earlier | -1.43% | final price |
| QQQ | that day | -1.64% | final price |
| QQQ | the next day | -4.83% | final price |
| QQQ | three days earlier | -1.86% | final price |
| QQQ | five days earlier | -2.90% | final price |
| SMH | that day | -1.14% | final price |
| SMH | the next day | -7.96% | final price |
| SMH | three days earlier | -4.67% | final price |
| SMH | five days earlier | -7.89% | final price |
| SOXX | that day | -1.55% | final price |
| SOXX | the next day | -9.68% | final price |
| SOXX | three days earlier | -5.71% | final price |
| SOXX | five days earlier | -8.88% | final price |
| TSM | that day | -1.82% | final price |
| TSM | the next day | -7.65% | final price |
| TSM | three days earlier | -3.47% | final price |
| TSM | five days earlier | -6.22% | final price |
Congressional trades in the stocks in this story
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 27 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 29 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 31 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 45 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 55 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 63 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Kevin Hern sold Asml Holding (ASML) (jointly held), worth $15,001 - $50,000 on 23 Oct 2026. That is 6 days before publication. Filed 28 Oct 2026. View the filing.
- Rep. Michael T. McCaul bought Asml Holding (ASML) (held by a spouse), worth $50,001 - $100,000 on 7 Aug 2026. That is 83 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Pete Sessions sold Nvidia (NVDA) (held by a spouse), worth $15,001 - $50,000 on 2 Oct 2026. That is 27 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Cleo Fields bought Nvidia (NVDA), worth $1,001 - $15,000 on 1 Oct 2026. That is 28 days before publication. Filed 22 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Nvidia (NVDA) (held by a dependent child), worth $1,001 - $15,000 on 23 Sep 2026. That is 36 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Cleo Fields bought Taiwan Semiconductor Manufacturing (TSM), worth $1,001 - $15,000 on 9 Oct 2026. That is 20 days before publication. Filed 22 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid the semiconductors case looks
25 out of 100
“There Are Overlooked AI Stocks as Chip Giants Dominate, According to Carmignac’s Naomi Waistell” scores 25 out of 100. The score uses 2 sources.