SOXrose88%inasinglequarter,JPMorganwarnstoreduceleverageonpositions.

Deep Tide TechFlow news: On July 6, according to Tide Research, JPMorgan’s latest global semiconductor weekly report noted that the Philadelphia Semiconductor Index rose 88% in Q2, the strongest single-quarter performance in the index’s history. However, institutions believe this rally is difficult to sustain unless profits are realized or cloud vendors’ capital expenditure growth truly slows. Position data shows that momentum factor holdings have fallen 17% from the June high. After hardware semiconductor crowded longs outperformed crowded shorts by nearly 40 percentage points in June, July has already seen consecutive net selling. Over the past month, the overall U.S. stock position percentile has dropped from the 60th percentile to the 40th percentile.

The derivatives trading desk has rarely provided short-volatility strategies for storage, optical communications, and semiconductor equipment: buy two-month puts and sell six-month calls. At the individual stock level, buyers of ASML have continued to model 2028 earnings per share at a level that remains higher than sellers’. At the same time, JPMorgan has raised its global storage capital expenditure forecast to $450 billion, reaffirming Tokyo Electron as the top pick.