Semiconductor Bounce & Tech 'Anti-Bubble'
Semis ripped 9-10% off the 200MA lows this week, with traders targeting higher levels. Separately, analysts argue tech is deeply undervalued with Nvidia at 15x forward earnings and SanDisk at 0.08 PEG.
What we know
An account on X confirmed $SMH and $SOXX bounced hard off 200MA, targeting $SMH ~558 and $SOXX ~520 this week. $QCOM is up ~10 points from Sunday's call with subs entered at 177, targeting 185–190. Another account on X cited Ritholtz Wealth CEO Josh Brown calling tech an 'anti-bubble' with SanDisk at a 0.08 PEG ratio. Meanwhile, another account on X flagged semis as one of the 'most hated trades' now getting interesting alongside gold shorts and French equities.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.