Stock Track | SOXL Soars 9.89% in Pre-Market on Apple-Intel Chip Partnership News and Semiconductor Sector Rally

Stock Track06-18

The Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 9.89% in pre-market trading, significantly outperforming the broader market. The leveraged exchange-traded fund, which seeks to deliver three times the daily return of a U.S. semiconductor index, captured and amplified a powerful rally across the chip sector ahead of the regular session.

The move is attributed to a major announcement regarding U.S. chip manufacturing. U.S. President Donald Trump stated that Apple has agreed to work with Intel to design and manufacture its chips in the United States. A partnership with Intel helps Apple diversify its manufacturing base as it seeks additional chip capacity, while giving Intel a steady demand boost from one of the world's largest consumer electronics companies.

The pre-market surge extends a broader semiconductor sector rally driven by strong artificial intelligence (AI) infrastructure spending, tightening supply in critical components, and supportive policies for advanced chip development. Industry data indicates robust fundamentals, with global semiconductor revenue reaching a record high in the first quarter. The fund's daily leveraged structure magnified the upside from these sector-wide catalysts.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment