SOXX Stock: The iShares Semiconductor ETF (SOXX) faced a second consecutive day of losses, dropping over 3% on Thursday as key chip stocks faltered. Monolithic Power Systems emerged as the day’s biggest loser within the ETF, with shares plummeting nearly 17%—marking its worst single-day drop since March 2020. The steep decline followed the company’s third-quarter earnings report, which, despite surpassing analyst expectations, revealed weaker-than-anticipated revenue in the enterprise data sector.

Universal Display, another SOXX holding, saw shares fall by over 8% after revising its annual revenue guidance. The company noted that growth for the remainder of the year is likely to be “more modest than initially projected,” prompting a sell-off among investors.

Adding to the ETF’s losses, Arm Holdings also slid over 8%, compounding the downward momentum within the semiconductor sector. As the semiconductor industry contends with shifting market conditions and recalibrated growth expectations, the SOXX ETF’s recent performance highlights a cautious outlook for investors in the high-tech space.

These challenges within the sector arrive amid broader volatility in tech stocks, signaling potential headwinds for the semiconductor industry.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult a qualified financial advisor or conduct your own research before making investment decisions.