On July 9, Direxion Daily Semiconductor Bull 3X Shares (SOXL) rose 5.08% overnight, trading at $183.5/share, with turnover of $712 million.

On the news front, multiple catalysts converged to lift semiconductor sentiment. Apple announced a five-year agreement to purchase over $30 billion worth of U.S.-manufactured chips from Broadcom, marking Apple's largest domestic manufacturing commitment to date. The deal covers custom ASIC chips and advanced wireless connectivity technology through 2031. Separately, Bank of America Securities issued a report stating that the recent semiconductor pullback represents a healthy market correction rather than weakening AI demand, reaffirming its Buy rating on Micron. The bank projects global cloud computing and AI infrastructure capital expenditure to approach $1.5 trillion by 2027, a 40-50% increase from current levels. Additionally, the Bank of Japan confirmed that expanding global AI demand is driving increased chip equipment and semiconductor orders, with corporate capital expenditure plans remaining robust. The Philadelphia Semiconductor Index rallied 2.23% in the prior session, with the 3X leveraged structure amplifying the rebound.

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