Intel (INTC Quick QuoteINTC - Free Report) reported Q2 results after market close yesterday. The world’s largest chipmaker missed estimates for both earnings and revenues and slashed the outlook for the fiscal year, citing cooling demand for its chips used in personal computers.

As such, shares of INTC plunged more than 10% in after-market hours. Given this, ETFs like Invesco PHLX Semiconductor ETF (SOXQ Quick QuoteSOXQ - Free Report) , First Trust Nasdaq Semiconductor ETF (FTXL Quick QuoteFTXL - Free Report) , First Trust NASDAQ Technology Dividend Index Fund (TDIV Quick QuoteTDIV - Free Report) , iShares Semiconductor ETF (SOXX Quick QuoteSOXX - Free Report) and iShares Edge MSCI USA Value Factor ETF (VLUE Quick QuoteVLUE - Free Report) , having the highest allocation to the world’s biggest semiconductor maker, will be in focus.

Q2 Earnings in Focus

Earnings of 29 cents per share came much below the Zacks Consensus Estimate of 69 cents and four times lower than the year-ago earnings of $1.28. This marks the first miss in more than eight years.

Revenues declined 17% year over year to $15.3 billion and came in below the estimated $17.9 billion. This represents the seventh straight quarter of decline and the biggest in more than a decade. Both client computing, and data-center and AI revenues declined 25% and 16%, respectively. However, network and edge, accelerated computing systems and graphics, and Mobileye revenues were up 11%, 5% and 41%, respectively (see: all the Technology ETFs here).

Intel has been grappling with a chip shortage. It continues to face challenges linked to persistent global supply-chain problems and worries of demand weakness in its largest end market PCs, in the upcoming quarters.

Intel slashed its revenue guidance to $65-$68 billion from $76 billion for the full fiscal year, and earnings per share guidance to $2.30 from $3.60. For the third quarter, the company expects revenues of $15-$16 billion and earnings per share of 35 cents. Both revenue and earnings per share guidance are well below the current Zacks Consensus Estimate of $19.89 billion and $1.00 per share, respectively.

ETFs to Tap

Invesco PHLX Semiconductor ETF (SOXQ Quick QuoteSOXQ - Free Report)

Invesco PHLX Semiconductor ETF tracks the PHLX Semiconductor Sector Index, holding 30 stocks in its basket. Intel occupies the fifth position with a 7.5% share in the basket.

Invesco PHLX Semiconductor ETF has accumulated $60 million in its asset base. It charges 19 bps in annual fees and trades in an average daily volume of 39,000 shares.

First Trust Nasdaq Semiconductor ETF (FTXL Quick QuoteFTXL - Free Report)

First Trust Nasdaq Semiconductor ETF offers exposure to the most-liquid U.S. semiconductor securities based on volatility, value and growth by tracking the Nasdaq US Smart Semiconductor Index. FTXL holds 30 stocks in its basket, with Intel taking the top spot at 7.4% share (read: Bet on Top-Ranked Semiconductor ETFs Amid Surging Sales).

First Trust Nasdaq Semiconductor ETF has accumulated $84.1 million in AUM. The average trading volume is light at around 10,000 shares and the expense ratio is 0.60%. FTXL has a Zacks ETF Rank #2 (Buy).

First Trust NASDAQ Technology Dividend Index Fund (TDIV Quick QuoteTDIV - Free Report)

First Trust NASDAQ Technology Dividend Index Fund provides exposure to dividend payers within the technology sector by tracking the Nasdaq Technology Dividend Index. It holds about 91 securities in its basket. Of these firms, Intel takes the fourth spot, making up for 7.5% of the assets. From a sector look, about 40% of the portfolio is dominated by semiconductors & semiconductor equipment, followed by software, IT services, and diversified telecommunications.

First Trust NASDAQ Technology Dividend Index Fund has amassed $1.7 billion in its asset base while trading in a volume of around 140,000 shares per day. It charges 50 bps in annual fees.

iShares Semiconductor ETF (SOXX Quick QuoteSOXX - Free Report)

iShares Semiconductor ETF follows the ICE Semiconductor Index and offers exposure to U.S. companies that design, manufacture and distribute semiconductors. It holds 30 securities in its basket, with INTC taking the third spot, holding a 7.5% allocation.

iShares Semiconductor ETF has amassed $6.8 billion in its asset base and trades in a volume of about 1 million shares a day. The product charges a fee of 43 bps a year from investors and has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook (read: Time for Semiconductor ETFs on Senate's CHIPS-Plus Bill Passage?).

iShares Edge MSCI USA Value Factor ETF (VLUE Quick QuoteVLUE - Free Report)

iShares Edge MSCI USA Value Factor ETF offers exposure to large- and mid-cap U.S. stocks with lower valuations based on fundamentals and tracks the MSCI USA Enhanced Value Index. It holds 150 stocks in its basket, with Intel occupying the top position at 5.2% of assets.  Information technology takes the largest share at 27.1%, while healthcare and consumer discretionary round off the next two.

iShares Edge MSCI USA Value Factor ETF has amassed $9 billion in its asset base and charges 15 bps in annual fees. It trades in an average daily volume of 1 million shares and has a Zacks Rank #1 with a Medium risk outlook.