On May 22, 2026, the iShares Semiconductor ETF (SOXX) closed at $537.33 (+2.41%), marking its first intraday record high since May 11. The milestone capped a strong three-day rally driven by major gains across key chipmakers.
- Qualcomm led the sector's surge, jumping more than 12% on Friday, supported by strong value gains from Advanced Micro Devices and Micron Technology.
- Despite the robust sector enthusiasm, some hedge funds like Aschenbrenner's Situational Awareness hold massive put positions against chipmakers, indicating underlying caution.