Semiconductor stocks flirt with a key line after brutal tech selloff
SweetBunFactory/iStock via Getty Images
Semiconductor stocks are testing their 200-day moving average for the first time in 16 months, putting the closely watched technical level in focus after a sharp selloff in technology shares linked to concerns over the returns on heavy artificial intelligence spending.
The iShares PHLX Semiconductor ETF (SOXX) was down 6.62% on Thursday, with the session’s price action touching its 200-day moving average at $473.39.
The Philadelphia Semiconductor Index (SOX) also fell sharply on Thursday, as semiconductor shares came under pressure amid the broader technology selloff.
Investors have been scrutinizing the scale of AI infrastructure spending and whether the resulting returns will justify the investment, adding to volatility across the sector.
Barchart highlighted the technical test in a post on X, noting that semiconductor stocks were approaching the average for the first time in 16 months.
Here is the chart:
barchart
Recommended For You
Register for free to keep reading.
Create a free account to get unlimited breaking news and alerts when your stocks move.
KioskNews shows a cleaned-up reading view extracted from the publisher’s page — the original always lives on their site, not ours.