🔴 SMH is trading 4.1% down today amid broad tech selloff and AI valuation concerns

SMH is trading sharply lower, down about 4.1% as part of a broad pullback in high-valuation technology and semiconductor names.

• The move follows several sessions of tech weakness tied to stretched AI-related valuations and rising hardware and memory costs.
• Additional pressure stems from post-earnings volatility in major chipmakers like Micron and steep declines in bellwether stocks such as Apple and Microsoft as investors rotate toward value sectors.
• The downward trend is currently outweighing positive sentiment from IBM’s announcement regarding advanced 0.7nm chip technology.