SOXQ is trading 2.1% up in after-hours trading as investors position ahead of Micron Technology’s earnings, which is viewed as a critical barometer for the AI and memory-chip cycle.
- The bounce follows a violent multi-day semiconductor selloff driven by doubts regarding AI profitability and stretched valuations, leading traders to selectively buy beaten-down chip names.
- Broader risk appetite has improved slightly due to easing bond yields and optimism surrounding a potential U.S.–Iran peace deal, providing support to the information technology sector.
- While sentiment remains fragile following recent rotations into value and industrials, the market is looking to Micron's report to gauge the health of the current AI investment cycle.