Bank of America Analysts Say Chip Selloff Could End as Early as Q1 2027

Bank of America analysts, including Vivek Arya, say the semiconductor stock selloff could end as early as the first quarter of 2027, after a sharp drop that has already exceeded the average loss in four previous downturns. The Philadelphia Semiconductor Index, known as the SOX, fell to 9,011 by Nov. 5 from a June 22 peak of 14,634, a 38% decline over 136 days. Four previous downturns, in 2011, 2015, 2018 and 2022, lasted an average 253 days and produced average peak-to-trough losses of 32%. The current decline has been steeper but has lasted just over half as long as the historical average. In prior cycles, SOX declines generally came six to nine months before semiconductor sales weakened.

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