Software Stocks Rise 24%, Semiconductors Fall 24% on Wall Street

Since June 22, software and semiconductor stocks on Wall Street have taken opposite paths. The SPDR S&P Software Services ETF (XSW) has accumulated a rise of nearly 24%, while the SPDR S&P Semiconductor ETF (XSD) has fallen around 24%. This difference of nearly 50 percentage points is the largest recorded between the two ETFs since 2011. Out of 45 software companies, 37 have risen since June 22, while out of 60 semiconductor companies, 59 have declined. Microsoft (MSFT) has added nearly $900 billion in market value, while Micron (MU), Taiwan Semiconductor Manufacturing (TSM), Arm (ARM), and AMD (AMD) have lost approximately $950 billion. In total, the software sector has incorporated around $1.5 trillion, while the chip sector has destroyed approximately $2.6 trillion in capitalization. Mark Newton of Fundstrat notes that software has surpassed its correction and is now performing better. Since June 22, the S&P North American Technology Software index has risen nearly 19%, while the Philadelphia Semiconductor index has fallen around 20%.

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