November 3 and $SOXL Is Still Under Pressure. Here’s the Latest.
The chip selloff is not over yet.
Semiconductor stocks tried to bounce in the latest U.S. session, but the recovery failed. Nvidia turned lower, while Micron, Intel and SanDisk all finished in the red. SOXL was hit especially hard because of its 3x leverage.
And today, the wider mood is still weak.
Reuters reports that global stocks are under pressure again as investors question the huge amount of money being spent on AI and whether those investments will generate enough profit. Big Tech earnings have added to those concerns.
That is the fresh problem for SOXL.
This is no longer just about Intel’s bad report from last week. Traders are now reducing exposure across the wider AI and semiconductor trade.
$NVDA and $MU are two names worth watching closely. If they stabilize, sentiment around the whole chip sector could improve quickly.
Remember, SOXL targets roughly 3x the DAILY move of the NYSE Semiconductor Index. That leverage can make rebounds powerful, but it also makes every sector selloff much more painful.
So can SOXL recover?
Yes, especially if chip stocks finally find buyers again.
But for now, November has started with the same problem: investors are still questioning the AI spending boom, and semiconductor stocks are taking the hit.
Another day, another selloff, but today the story has moved beyond just one chip company.
Trade $SOXL here 👇
The chip selloff is not over yet.
Semiconductor stocks tried to bounce in the latest U.S. session, but the recovery failed. Nvidia turned lower, while Micron, Intel and SanDisk all finished in the red. SOXL was hit especially hard because of its 3x leverage.
And today, the wider mood is still weak.
Reuters reports that global stocks are under pressure again as investors question the huge amount of money being spent on AI and whether those investments will generate enough profit. Big Tech earnings have added to those concerns.
That is the fresh problem for SOXL.
This is no longer just about Intel’s bad report from last week. Traders are now reducing exposure across the wider AI and semiconductor trade.
$NVDA and $MU are two names worth watching closely. If they stabilize, sentiment around the whole chip sector could improve quickly.
Remember, SOXL targets roughly 3x the DAILY move of the NYSE Semiconductor Index. That leverage can make rebounds powerful, but it also makes every sector selloff much more painful.
So can SOXL recover?
Yes, especially if chip stocks finally find buyers again.
But for now, November has started with the same problem: investors are still questioning the AI spending boom, and semiconductor stocks are taking the hit.
Another day, another selloff, but today the story has moved beyond just one chip company.
Trade $SOXL here 👇
