Semiconductor stocks have surged as much as 100% this year, with the Invesco PHLX Semiconductor ETF delivering 60-70% year-to-date gains. The SOX index dropped more than 20% from its peak in July, entering bear market territory and prompting hedge funds to trim their exposure by roughly 5%. Bank of America forecasts 1.3 trillion dollars in global semiconductor revenue for 2026, driven by AI-related demand. Nvidia’s earnings, expected on August 26, will be a key inflection point for the sector.
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