SOXQ is trading 2.4% lower as investors rotate out of AI beneficiaries and semiconductor stocks give back gains from the previous session's Micron-driven rally.
- The pullback aligns with weaker Nasdaq futures and a continued shift from richly valued technology names into other sectors.
- Broader sentiment remains cautious following warnings about stretched valuations and the rising costs associated with AI infrastructure.
- Sector heavyweights Apple and Microsoft are also trading lower, adding further downward pressure to the technology landscape.