Yahoo Finance | EN590 Commodities
EN590 Commodities GroupMarket Analysis 2026-07-29T13:50:26+00:00
The reaction to SK Hynix's (SKHY) capex guidance on Wednesday only highlights the stunning summer rout in semiconductor stocks. Shares of the South Korean chip play tanked as the company said it expects its capital expenditures to surge 50% this year to at least $31 billion. The company is attempting to meet the strong demand for its memory chips, which are playing a key role in the AI boom. Quick insight:The SK Hynix rout will unlikely do anything to reawaken animal spirits in the chips space. All the stocks of the closely watched Philadelphia Semiconductor Index (^SOX) are now trading below their 50-day moving averages, the first such occurrence since April 2025, according to FactSet data. The SOX has declined 18.9% so far in July, and is on track for its largest monthly loss since 2008.
About EN590 Commodities Group
25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.