🔴 Semiconductor ETF (SMH) is trading 1.65% down today amid sector-wide profit-taking ahead of CPI

SMH is trading at $573.08, down -1.65%, as investors reduce risk ahead of the August 12 CPI report.

• TSMC July revenue rose 44.7% year over year, supporting AI demand despite profit-taking.
• The Philadelphia Semiconductor Index rose more than 18% from its July 29 low; Intel’s planned $15 billion equity offering adds pressure.
• Nasdaq weakness and higher oil tied to Strait of Hormuz uncertainty pressure inflation and risk sentiment; the decline appears sector-led, not a demand shock.