From Seekingalpha · Bespoke Investment Group · · 40s
Semis Drop 10% This Week
Semis fall 10% as AI trade unwinds.
In brief
Semis fall 10% as AI trade unwinds. The Philly SOX semis dropped over 10% this week after rebounding from a 28.6% decline since June. Originally reported by Seekingalpha.
Semis Drop 10% This Week
The semis have gotten pummeled this week with a decline of more than 10%.
SOX Rebounded 28.6% from June
At its late-July low, the SOX was down 28.6% from the June peak before staging a rally that came up short of a new high in early October.
AI Trade Unwinds Risk
This week’s selling has erased most of that rebound, so the question now is how bad things could get if the AI trade really unwinds.
The short version
The Philly SOX semis dropped over 10% this week after rebounding from a 28.6% decline since June.
