Macro Strategy Insights

Nothing “Semi” About the Semis…

“Semi” is a Latin-derived prefix meaning half, partly, or incompletely. There is very little about the semiconductor business that is half, part, or incomplete right now. As discussed in last weekend’s Moonshot, the chip sector continues to drive markets. While NVDA dropped over 8% from an all-time closing high on Monday, the SOXX ETF (a semiconductor ETF) finished the week at its all-time closing high. SOXL, a 3X leveraged semiconductor ETF, hit a record with $17 billion in total assets (despite seeing shares outstanding decline as some investors took profits). We are having a lot, and I mean a lot, ... Nothing “Semi” About the Semis…

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