🔴 SOXX is trading 5.3% down today as chip and memory stocks lead a sector-wide pullback

SOXX is trading 5.3% down today as weakness in chip and memory stocks leads technology shares lower, extending a recent rotation out of richly valued semiconductors.

• Investors are focused on stretched valuations and rising AI infrastructure costs, driving profit-taking after the fund's outsized year-to-date gains.
• The decline persists despite IBM’s breakthrough 0.7nm chip announcement, as broader negative sentiment weighs on high-growth, AI-related names.
• The selloff aligns with a wider technology retreat as the market recalibrates expectations for the semiconductor sector.