Chip stocks have entered a bear market. A BofA analyst says not to panic.
- Investing Markets
Ramit Sethi- 0
- 5 minutes read
Updated
As the chip sector officially enters a bear market, a BofA analyst says the recent pressure is merely “a summer reset, not a fundamental reversal.”
It’s been a volatile stretch for the sector, with the PHLX Semiconductor Index
SOX finishing in a bear market on Friday after seeing explosive gains in the first half of the year. The index ended the day down 20.2% from its all-time closing high achieved on June 22. A bear market is defined as a drop of 20% or more from a recent significant peak.
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