No stock rally is perfect, as is the case with the one seen this week in the tech-heavy Nasdaq Composite (^IXIC). In fact, there are some downright bearish signals that warrant a good think from the AI-focused bulls. The closely watched Philadelphia Semiconductor Index (^SOX) is still down 14% from its June highs, and only three names in the index are closer to their highs than the SOX itself, according to BTIG tech strategist Jonathan Krinsky. Those names are AMD (AMD), Nvidia (NVDA), and Taiwan Semiconductor (TSM). (^SOX ) Go deeper with AlphaSpace 12,396.83 -292.99 (-2.31%) As of 10:30:34 AM EDT. Market Open. What's more, 10 of the 30 names in the SOX are still off more than 30% from their 52-week highs.
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