The SMH stock forecast benefits from U.S. semiconductor policy incentives, with expectations for improved margins in domestic manufacturers, potentially lifting the ETF’s aggregate EPS by 8%. With the QQQ ETF up nearly 20% this year as of Oct. 15, Evercore says the rally is far from over. Evercore's analyst said that it set a price target for the world's fifth-largest ETF by assets under management at $570, a 16.3% increase from its current $490, as its "UniQQQuely bullish 'failed' head and shoulders" on the chart. The macro backdrop is setting the stage for Friday’s Jackson Hole Symposium , where Fed Chair Jerome Powell is expected to tee up a September rate cut. Fed funds futures are pricing in an 83% probability of a 25-basis-point reduction. With 10-year Treasury yields at 4.31% and the S&P credit rating reaffirmed at AA+ due to tariff revenues offsetting fiscal slippage, markets are poised for Powell’s signal. In sector rotation trends, SMH stock forecast gains are projected as investors shift allocations back into growth-oriented tech from defensive utilities amid economic resilience.
