On July 14, iShares Philadelphia Semiconductor ETF (SOXX) rose 5.05% in pre-market trading, trading at $580.55/share, with turnover of $96.05 million. The rebound follows the previous session's steep 5% intraday sell-off driven by hedge fund profit-taking.
On the news front, multiple positive catalysts converged to lift semiconductor sentiment. The Bank of Korea issued a rare statement dismissing semiconductor peak concerns, asserting that AI-driven demand continues to exceed supply and that the current upcycle has already surpassed the historical average of 40 months with stronger intensity than prior cycles. Additionally, the Korean government announced a national-level super project encompassing semiconductors and AI data center infrastructure investment. Storage and chip stocks broadly rebounded in pre-market, with SK Hynix rising over 6%, Tower Semiconductor surging over 16%, and Micron, Intel, and Applied Materials gaining over 2%.
The fund generally invests at least 80% of its assets in the component securities of its index and in investments that have economic characteristics substantially identical to the component securities of its index. The fund is non-diversified.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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