---
title: "SOXX Enters Bear Market: Why Ed Yardeni Says Semiconductor Stocks Could Fall Another 12%"
url: https://stacklist.com/card/a679cd0f-15d3-4014-b808-381f3ac1fafb
source_url: "https://www.benzinga.com/etfs/sector-etfs/26/07/60544499/soxx-enters-bear-market-why-ed-yardeni-says-semiconductor-stocks-could-fall-another-12"
stack: https://stacklist.com/c/finance/stack/f947deb3-cc46-4708-be70-b5d70fe6a5d3
summary: "SOXX, the iShares Semiconductor ETF, has plunged 20.3% from its June 2 peak, officially entering bear market territory as the AI semiconductor rally unwinds. Veteran strategist Ed Yardeni warns that semiconductor stocks could fall another 12%, highlighting a stark divergence between the calm broader S&P 500 and the tech sector freefall."
tags: "semiconductors, bear-market, soxx, ai-stocks, tech-selloff, ed-yardeni, momentum-stocks"
key_entities: "Ed Yardeni (person), iShares Semiconductor ETF (SOXX) (organization), Roundhill Memory ETF (DRAM) (organization), Benzinga (organization), Bear Market (concept), AI Semiconductor Rally (concept), S&P 500 (concept)"
classification: "analysis"
content_hash: "sha256:6d149933257b9fc7accedb1f462b53020b83e9cccfc496ace63ffd8bca1f2d9c"
acp_version: "0.2"
token_counts_approximate: 2071
visibility: public
agent_accessible: true
status: "final"
---

# SOXX Enters Bear Market: Why Ed Yardeni Says Semiconductor Stocks Could Fall Another 12%

Benzinga España Italia 대한민국 日本 Français My Account Login SPY 742.14 - QQQ 695.82 - BTC/USD 66134.46 1.4136% DIA 517.92 - GLD - - TLT 83.92 - Get Benzinga Pro Data & APIs Events Premarket Advertise Contribute España Italia 대한민국 日本 Français Login Register Benzinga Premium Services Benzinga Edge Benzinga Pro Benzinga Research Benzinga APIs Financial News Financial News Large Cap Stocks Small-Cap Stocks Insider Trades Earnings Technology AI News Personal Finance ETF News Crypto News Dividend News Latest Rumors Latest Offerings News Investment Ideas Investment Ideas Stock of the Day Stock Whisper Index Analyst Ratings Analyst Color Financial Advisors Government Trades Trading Ideas Stock Screener Markets Markets Premarket Movers After Hours Options ETFs Commodities Prediction Markets Private Markets Bonds Futures Forex Top Stocks Top Stocks Apple (AAPL) Tesla (TSLA) Amazon (AMZN) Nvidia (NVDA) Alphabet (GOOGL) Meta Platforms (META) Microsoft (MSFT) StreetTracks Gold Shares (GLD) IBIT Bitcoin Trust (IBIT) Top Value Stocks Top Momentum Stocks Top Growth Stocks Top Quality Stocks Learn Learn Investing Guides Personal Finance Mortgages Best Credit Cards Best Dividend Stocks Best Swing Trade Stocks Investment Ideas Investment Ideas Stock of the Day Stock Whisper Index Analyst Ratings Analyst Color Financial Advisors Government Trades Trading Ideas Stock Screener Markets Markets Premarket Movers After Hours Options ETFs Commodities Prediction Markets Private Markets Bonds Futures Forex Top Stocks Top Stocks Apple (AAPL) Tesla (TSLA) Amazon (AMZN) Nvidia (NVDA) Alphabet (GOOGL) Meta Platforms (META) Microsoft (MSFT) StreetTracks Gold Shares (GLD) IBIT Bitcoin Trust (IBIT) Top Value Stocks Top Momentum Stocks Top Growth Stocks Top Quality Stocks Learn Learn Investing Guides Personal Finance Mortgages Best Credit Cards Best Dividend Stocks Best Swing Trade Stocks Research My Stocks Tools Free Benzinga Pro Trial Calendars Analyst Ratings Calendar Conference Call Calendar Dividend Calendar Earnings Calendar Economic Calendar Events Calendar FDA Calendar Guidance Calendar IPO Calendar M&A Calendar Unusual Options Activity Calendar SPAC Calendar Stock Split Calendar Trade Ideas Stock Reports Insider Trades Trade Idea Feed Analyst Ratings Unusual Options Activity Heatmaps Free Newsletter Government Trades Perfect Stock Portfolio Easy Income Portfolio Short Interest Most Shorted Largest Increase Largest Decrease Calculators Options Profit Calculator Margin Calculator Forex Profit Calculator 100x Options Profit Calculator Covered Call Calculator Cash-Secured Put Calculator Long Call Calculator Long Put Calculator Screeners Stock Screener Top Momentum Stocks Top Quality Stocks Top Value Stocks Top Growth Stocks Compare Best Stocks Best Momentum Stocks Best Quality Stocks Best Value Stocks Best Growth Stocks Recent Markets SPY 742.14 - QQQ 695.82 - BTC/USD 66134.46 1.4136% DIA 517.92 - GLD - - TLT 83.92 - July 20, 2026 4:02 AM 3 min read SOXX Enters Bear Market: Why Ed Yardeni Says Semiconductor Stocks Could Fall Another 12% The broader stock market remains seemingly calm, but a brutal 20% semiconductor plunge has veteran strategist Ed Yardeni warning that high-flying tech equities have even further to fall. While the S&P 500 is hovering securely around the 7,500 level—just 2.0% below its June 2 all-time high—momentum tech stocks are in freefall. Tech Wreck Beneath the Surface “The surface stayed calm while the engine broke,” Yardeni noted, highlighting the stark divergence between the broader market and the tech sector. The ETF tracking the semiconductor index, iShares Semiconductor ETF (NASDAQ: SOXX ) , has plummeted 20.3% from its June 2 peak, officially entering bear market territory. The damage is even more severe in hyper-growth momentum names. The Roundhill Memory ETF (BATS: DRAM ) , which skyrocketed from its April launch to peak at $80.72 on June 22, is down roughly 35% since then. Margin Calls and AI Competition Trigger Selloff Adding fuel to the fire, Chinese AI lab Moonshot recently launched Kimi K3, a massive 2.8-trillion-parameter open-weight model. The release, which Moonshot claims rivals top-tier models from OpenAI and Anthropic , has revived DeepSeek -era fears regarding AI commoditization. Because of these cascading pressures, Yardeni is not calling the bottom just yet. He explicitly warned that the “S&P 500 Semiconductors stock price index is likely to fall another 12% to its 200-day moving average.” Strategic Rotations: Financials and Healthcare This aggressive selloff validates Yardeni Research’s earlier defensive posturing. The firm proactively downgraded the S&P 500 Information Technology sector to market weight on Dec. 7, 2025. Instead of catching falling knives in the semiconductor space, Yardeni is advocating for a sector rotation strategy. The firm maintains an overweight rating on the Financials and Health Care sectors, which have successfully weathered the recent storm. Yardeni emphasized that these traditional sectors are holding up well, buoyed by a booming investment banking environment and strong performance across the biotechnology industry. Price Action in Tech and Broader Market While the SOXX ETF has risen by 71.13% year-to-date, the S&P 500 and Nasdaq 100 indices have gained 8.94% and 12.29%, respectively. Meanwhile, the DRAM ETF has advanced by 95.26% since its listing in April. Additionally, futures for the S&P 500, Dow Jones, and Nasdaq 100 indices were mixed in overnight trading, with Dow and S&P 500 futures falling and Nasdaq 100 futures advancing. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock Market News and Data brought to you by Benzinga APIs © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. To add Benzinga News as your preferred source on Google, click here . 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Subscribe Terms & Conditions Do Not Sell My Personal Data/Privacy Policy Disclaimer Service Status Sitemap © 2026 Benzinga | All Rights Reserved by Rishabh Mishra Follow Flipboard Icon version of the Flipboard logo SOXX iShares PHLX SOX Semiconductor Sector Index Fund $524.97 0.16 % Overview DRAM Roundhill Memory ETF $53.25 0.36 % SKHY SK hynix Inc $153.70 - % Read Next Tech Tech Rout Deepens on China's AI Shock, Crude Rises to $81: Stock Market Today Semiconductors extend a brutal week after Moonshot AI unveils Kimi K3, while oil jumps 3% on Hormuz renewed disruptions. 5 min read Read this article According to Yardeni’s QuickTakes analysis, this violent tech correction is being driven by a sudden convergence of international pressures. Heavy margin calls on South Korean tech giants Samsung and SK Hynix Inc. (NASDAQ: SKHY ) have severely weighed on U.S. memory chip and semiconductor equities in recent trading sessions. Read Next Markets SanDisk's 40% Drop From Peak: Value Trap or Once-in-a-Generation Buy? SanDisk trades at 7.9x forward earnings after a 40% drop. History says memory stocks look cheapest right before earnings break. 3 min read Read this article SOXX iShares PHLX SOX Semiconductor Sector Index Fund $524.97 0.16 % Overview DRAM Roundhill Memory ETF $53.25 0.36 % SKHY SK hynix Inc $153.70 - %