🔴 SOXX is trading 3.31% down as CXMT’s denser DRAM progress raises competition concerns

SOXX is trading 3.31% lower at $531.86 as semiconductor shares sell off amid competition concerns over Chinese memory maker CXMT’s progress on a denser DRAM design. - Broadcom CEO Hock Tan warned AI-investment expectations resemble a casino and financing could constrain expansion. - SOXX fell 2.60% on October 12 and is down for a fifth consecutive session. - Broader U.S. indices are nearly flat, pointing to chip-sector weakness rather than a broad-market decline.