🔴 Invesco PHLX Semiconductor ETF is trading 1.5% down today as AI chip stocks extend selloff following Broadcom earnings

Invesco PHLX Semiconductor ETF is trading 1.5% down as investors rotate out of high-valuation semiconductor and AI names following Broadcom’s disappointing market reaction to its earnings and outlook.

• The broader information technology sector, particularly semiconductors, is seeing profit-taking after a strong multi-week run.
• Capital is shifting toward value and industrials following record highs in the Dow, leaving tech and AI-linked chips weaker heading into the June 5 session.