# Tech stocks bounce as Lilly gains on obesity drug survey > Semiconductor stocks snap a nine-session losing streak while Bank of America's physician survey bolsters confidence in Eli Lilly's oral GLP-1 drug Foundayo. - Title: Tech stocks bounce as Lilly gains on obesity drug survey - Summary: Semiconductor stocks snap a nine-session losing streak while Bank of America's physician survey bolsters confidence in Eli Lilly's oral GLP-1 drug Foundayo… - Keywords: semiconductor stocks, eli lilly, foundayo, glp-1 drugs, bank of america, nasdaq, obesity drugs, medicare, business, finance, Tech, stocks - Source: CNBC — https://cnbc.com/investingclub/2026/10/19/crushed-tech-stocks-bounce-new-doctor-survey-keeps-us-positive-on-lilly.html - Author: Kevin Stankiewicz,Jeff Marks - Published: 2026-10-19T18:52:35+00:00 - Read time: 2 min - Topics: semiconductor stocks, eli lilly, foundayo, glp-1 drugs, bank of america, nasdaq, obesity drugs, medicare, business, finance ## Tech stocks snap losing streak The iShares Semiconductor ETF, known as SOXX, is on pace to end its worst stretch since May two thousand six after nine consecutive losing sessions. The Nasdaq is up one percent. ## But the bounce feels weak The SOXX is trading well off its best levels of the session. CoreWeave, a market focal point, has flipped from positive to negative and is making a new low for the year under sixty dollars… ## Money rotates out of defensive stocks As money moved into semiconductor stocks, it rotated out of defensive groups that rallied last week, including healthcare and consumer staples. That is why the Dow is near flat. ## Oil and bond yields rise WTI crude is increasing about two dollars to around one hundred three dollars per barrel. ## Lilly's obesity drug market expands Bank of America analysts raised their price target on Eli Lilly shares to one thousand three hundred ninety-seven dollars from one thousand three hundred forty-one dollars following their third-quarter physician survey on the obesity drug… ## Daily pills and Medicare drive growth The market for obesity drugs is getting bigger thanks to the introduction of daily pills and Medicare coverage this year.Lilly's oral Foundayo launched in the U.S. ## Survey shows expansion, not cannibalization Bank of America analysts found that both oral G L P one pills and Medicare coverage derive approximately seventy percent of volumes from patients new to G L P one drugs, naïve or restarts, supporting… > Our three Q physician obesity survey adds validation for oral G L P one s and the Medicare Bridge as U S category expanders, with both deriving approximately seventy percent of volumes from patients new to G L P one s. ## Foundayo gaining share on Wegovy Foundayo is now at twenty-seven percent of oral G L P one new starts in the U.S., and Bank of America's survey indicates forty percent share by twenty twenty-eight or twenty twenty-nine. ## Key takeaway Tech stocks rebounded Monday after last week's selloff, but the bounce was tepid. Bank of America's physician survey raised Eli Lilly's price target to one thousand three hundred ninety-seven dollars, citing growth in the obesity drug market from daily pills and Medicare coverage.