SOXX is trading 5.8% higher as semiconductor and information technology stocks rebound alongside the AI trade.
- Powerful upside surprises from Micron and Qualcomm regarding revenue, margins, and long-term AI-related chip demand have lifted the entire sector.
- Bullish sentiment is further supported by IBM’s recent chip breakthrough.
- Today’s move reflects significant short-covering and dip-buying in high-beta semiconductor stocks following a sharp tech rout earlier in the week.