This Semiconductor ETF Just Had Its Worst Day Since March 2020
The iShares Semiconductor ETF (SOXX) recorded its steepest single-day decline since the pandemic crash of March 2020. Broadcom and Qualcomm each fell at least 9% on Thursday, November 5, as a broad post-election selloff hit chip stocks despite no company-specific news. Broadcom's most recent quarter showed revenue up 86% to $29 billion, yet the stock still dropped 10%. Analysts are now debating whether the pullback creates buying opportunities in select semiconductor names.
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- ✓ The iShares Semiconductor ETF (SOXX) had its worst day since March 2020.
- ✓ Broadcom fell 10% on November 5 during a post-election chip selloff.
- ✓ Qualcomm also lost at least 9% on the same day.
- ✓ Broadcom's latest quarter showed revenue up 86% to $29 billion.
What changed
SOXX posted its worst daily performance since March 2020, led by double-digit drops in Broadcom and Qualcomm on November 5 with no earnings catalyst.
Live updates
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Semiconductor ETF suffers worst drop since March 2020
The iShares Semiconductor ETF (SOXX) recorded its steepest single-day decline since the pandemic crash of March 2020. Broadcom and Qualcomm each fell at least 9% on Thursday, November 5, as a broad post-election selloff hit chip stocks despite no company-specific news. Broadcom's most recent quarter showed revenue up 86% to $29 billion, yet the stock still dropped 10%. Analysts are now debating whether the pullback creates buying opportunities in select semiconductor names.
Why it matters
The selloff reflects a sudden risk-off shift in AI-exposed hardware after months of heavy inflows. Investors are reassessing valuation premiums even for companies posting strong fundamentals, suggesting the market may be pricing in a slowdown in data-center capital expenditure. The move also pressured leveraged vehicles like the Direxion Daily Semiconductor Bull 3x Shares (SOXL), amplifying losses for short-term traders.
What is confirmed
- The iShares Semiconductor ETF (SOXX) had its worst day since March 2020.
- Broadcom fell 10% on November 5 during a post-election chip selloff.
- Qualcomm also lost at least 9% on the same day.
- Broadcom's latest quarter showed revenue up 86% to $29 billion.
Still unconfirmed
- Analysts say certain chip stocks now look like bargains and may be buying opportunities.
- The AI bubble has already popped and the next rally may be coming for SOXX.
What to watch next
- Broadcom and Qualcomm forward guidance updates
- Semiconductor capital expenditure forecasts from major cloud providers
- SOXX flow data for signs of stabilization or further redemption pressure
confidence 85%Sources used for this update (12)
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- Yahoo Finance — This Semiconductor ETF Just Had Its Worst Day Since March 2020
- MarketWatch — Analysts say these chip stocks are bargains. Is it time to buy?
- Seeking Alpha — SOXX: The AI Bubble Already Popped, And The Next Rally May Be Coming (NASDAQ:SOXX)
- The Motley Fool — Stock Market Sell-Off: 4 Ridiculously Cheap Semiconductor Stocks You Can Buy Today
- Stock Traders Daily — Precision Trading with Direxion Daily Semiconductor Bull 3x Shares (SOXL) Risk Zones
- finance.yahoo.com — Broadcom and Qualcomm Each Lost at Least 9% Thursday. Only One Is Guiding for 93% Growth
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