Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 5.06% intraday, outperforming the broader semiconductor sector. The leveraged ETF, which provides 3x exposure to semiconductor stocks, benefited from a rally in chipmakers following TSMC's bullish capital expenditure forecast.
Semiconductor stocks gained after TSMC announced it expects 2026 capex to reach $52 billion to $56 billion, signaling strong demand for chipmaking equipment and services. This optimism spilled over to SOXL, which amplifies sector movements due to its leveraged structure.
The rally was broad-based, with ASML, Applied Materials, and Lam Research also posting significant gains. SOXL's performance reflects heightened investor confidence in the semiconductor industry's growth prospects.
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