Semiconductor Stocks Retreat After Record H1 Rally, Dow Drops 184 Points
SMH•Semiconductor stocks retreated from a record first-half rally, dragging the Dow down 184 points as profit-taking hit sector leaders. SMH slipped after reaching a six-month high, while Salesforce shares climbed following a buy upgrade that highlighted resilient subscription growth despite looming AI disruption.
1. Semiconductor Stocks Pull Back After Record H1 Rally
Investors booked profits in semiconductor names after the sector posted its strongest first-half performance on record. The pullback in chip makers weighed on the Dow, which fell 184 points, with the SMH ETF reversing course after hitting a six-month peak.
2. Salesforce Receives Buy Upgrade Despite AI Headwinds
An analyst raised Salesforce to a buy rating, citing continued strength in subscription revenue growth. The upgrade noted potential AI-driven competition as a future challenge but suggested current fundamentals support further upside.
