SOXQ is trading 1.6% down in pre-market on July 10 as investors lock in profits following a powerful rally in the semiconductor and broader technology sectors.
- The pullback follows a 3.06% surge in the PHLX Semiconductor Index on July 9, which was fueled by Meta’s new Iris AI chip plans and Micron’s $250 billion U.S. investment announcement.
- With no major economic data scheduled for release and index futures showing mixed results, the decline is viewed as a modest sentiment-driven cooling period rather than a fresh macroeconomic shock.