Semiconductor stocks cooled on Wednesday as the SOX index fell 1.2%, snapping a six-day winning streak that had pushed the sector up 14% on AI-driven demand.
The SOX index declined 1.2% after a six-day 14% rally, signaling a short-term pullback in semiconductor stocks.
The Philadelphia Semiconductor Index (SOX) retreated 1.2% on Wednesday, marking a brief pause after a robust six-day rally that saw the index climb 14%. The recent surge was fueled by sustained investor enthusiasm for artificial intelligence and memory chip manufacturers.
The index pulled back 1.2% as investors took profits following a rapid 14% rally over the preceding six trading days.