FRA:DHER 7 July 2026

July 10, 2026, 9:47 AM EDT. BTIG sees trouble ahead for the Philadelphia Stock Exchange Semiconductor Index (SOX), pointing to 15 days of 3% or bigger swings in just 30 sessions. That kind of action has led to at least 17% pullbacks in the past. SOX surged 22% in May and another 11% in June, but dropped 9% in July, now up more than 80% so far this year. Analysts say the moves look a lot like those during the tech runs in the early 2000s. Even so, Jefferies expects further, more moderate gains after the sharp rally. SK Hynix's potential IPO on Nasdaq could ramp up the volatility, and traders at Morgan Stanley and UBS see more room for a pullback. Hynix aims to raise close to $30 billion to boost its manufacturing footprint.