SOXX is trading lower in pre-market at $608.02, down 2.75% from the prior close, as investors lock in profits following a sharp rebound driven by strong AI guidance from Micron and Qualcomm.
- The decline reflects a broader rotation out of richly valued information technology and semiconductor names into other sectors.
- Market sentiment remains cautious ahead of U.S. consumer sentiment data, with Nasdaq futures also trending lower.