Semiconductor Crash & Record Dip-Buying
The Semiconductor Index ($SOX) is in a 7-session losing streak matching its longest since 2008, erasing ~$2T in market cap, yet the 3x leveraged $SOXL ETF attracted a record $3.8B in weekly inflows as dip buyers flood in.
What we know
An account on X reported the $SOX has dropped -12.4% over 7 consecutive sessions, the longest streak since the 2008 Financial Crisis. Despite this, another account on X separately broke that $SOXL attracted +$3.8B in inflows this week — on track for its largest weekly intake on record — following 3 consecutive weeks of outflows. Cybersecurity names compounded the tech pain: Another account on X noted $CRWD, $FTNT, $PANW, $ZS all down ~7% while SPX lost only 0.3%. Meanwhile, GPU rental prices surged up to 81x across providers in 60 days, suggesting compute demand remains ferocious even as semiconductor stocks bleed.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.