Aug. 19 at 3:34 AM
🚨 Investors are rotating within US tech, with semiconductors losing favour.
JPMorgan data shows QQQ attracted about
$3.0 billion last week, while Nasdaq 100 futures saw roughly
$7.5 billion of net buying.
At the same time, broad tech ETFs saw
$3.4 billion of outflows, while semiconductor ETFs SOXL, SMH and SOXX together lost about
$3.9 billion.
The four week split is even bigger. QQQ has attracted
$15.4 billion, while SOXX has seen
$5.6 billion of outflows.
Investors are keeping exposure to large cap Nasdaq names while cutting semiconductor positions, as crowded AI trades and strong previous gains encourage de risking.
$QQQ $SOXX $SPY $NVDA $INTC