On July 9, Direxion Daily Semiconductor Bear 3X ETF (SOXS) fell 8.21% in pre-market trading, trading at $4.15/share, with turnover of $39.48 million. As a 3x inverse semiconductor product, its decline signals a strong rebound across the semiconductor sector.

On the news front, Bank of America Securities published its latest semiconductor industry report characterizing the recent chip stock pullback as a normal market correction rather than a signal of weakening AI demand. The firm reaffirmed its Buy rating on Micron Technology with a $1,550 price target, noting memory chips at only 10x valuation are severely undervalued. BofA projects global cloud computing and AI infrastructure capex will approach $1.5 trillion by 2027, representing 40%-50% growth from current levels. The broad semiconductor sector rallied in pre-market, with Marvell up over 4%, ARM and Intel up over 3%, Micron up nearly 4%, and Corning up over 5%.

The fund invests at least 80% of net assets in financial instruments providing 3X daily inverse exposure to an index tracking the thirty largest U.S. listed semiconductor companies. The fund is non-diversified.

(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.)