Is the AI Bubble Cracking? Chip Stocks Fall for 8 Straight Days

Chip stocks have closed lower for eight straight sessions, their longest losing streak in 16 years, according to Barchart. The iShares Semiconductor ETF (SOXX) closed Thursday at $514.71, nearly 14% off its October high. Thursday also brought the first sign of resistance. SOXX briefly slipped under $496, then clawed back to close above its open on the heaviest volume in months. What Exactly Are Investors Selling? SOXX is a $44.7 billion BlackRock fund that tracks the ICE Semiconductor Index, a basket of about 30 US-listed chipmakers. Its 10 largest positions account for roughly 62% of assets. The biggest names took the heaviest hits. Intel has lost more than 20% in two weeks, while AMD dropped over 5% intraday on October 14.

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