According to CNBC, RBC Capital Markets told clients to avoid the tech sector in the medium term, echoing a Deutsche Bank warning from last week, and downgraded the sector to market weight from overweight while recommending health care instead. RBC said earnings momentum in chips is slowing, with upward EPS estimate revisions decelerating for the R3000 Semi & Semi Equipment industry. The iShares Semiconductor ETF (SOXX) fell almost 3% on Wednesday, was down more than 5% for the week and sat more than 19% below its late-June 52-week high. The VanEck semiconductor ETF (SMH) dropped more than 2% on Wednesday and was off 5.5% in October. Micron has more than doubled over the past six months, while Sandisk has gained 57%.