On July 9, Direxion Daily Semiconductor Bull 3X Shares (SOXL) rose 6.05% in pre-market trading, trading at $186.04/share, with turnover of $22.09 million.

Multiple catalysts converged to drive the rally. Apple announced a five-year agreement to purchase over $30 billion worth of U.S.-manufactured chips from Broadcom, its largest domestic manufacturing commitment to date, covering custom ASIC chips across multiple product generations through 2031. Bank of America Securities issued a report stating the recent semiconductor pullback represents a healthy market correction rather than weakening AI demand, reaffirming its Buy rating on Micron. Additionally, the Bank of Japan confirmed in its latest report that expanding global AI demand is driving increased chip equipment and chip orders, with corporate capital expenditure plans remaining robust.

The Philadelphia Semiconductor Index had already rebounded 2.23% in the prior session, signaling significant sentiment recovery following last week's selloff triggered by Morgan Stanley's underweight recommendation. As a 3x leveraged ETF tracking the Philadelphia Semiconductor Index, SOXL amplifies the underlying index movement proportionally.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)