{
  "id": 9348464,
  "title": "Nasdaq rally hasn't stopped these tech stocks from flashing warning signs",
  "url": "https://urgent.news/2026/09/23/nasdaq-rally-hasnt-stopped-these-tech-stocks-from-flashing-warning",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T14:17:10.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/article/nasdaq-rally-hasnt-stopped-these-tech-stocks-from-flashing-warning-signs-141710781.html"
  },
  "original_language": "en",
  "account": "While the tech-heavy Nasdaq Composite index has recently reached back-to-back record highs, not all stocks within this sector are performing equally well. The Philadelphia Semiconductor Index (^SOX), which tracks semiconductor companies, is still down 14% from its June highs, indicating potential bearish signals despite the overall rally. Only three semiconductors in the index, AMD (AMD), Nvidia (NVDA), and Taiwan Semiconductor (TSM), are nearing their 52-week highs. Moreover, 10 of the 30 companies in the SOX are off more than 30% from their 52-week peaks, with GlobalFoundries (GFS), KLA (KLAC), and On Semiconductor (ON) experiencing losses exceeding 40%. The average SOX member is down 26%. Analyst Jonathan Krinsky warns that this situation bears resemblance to the early 2000s market crash, where many semiconductor stocks made new highs while the SOX itself did not. Krinsky highlights the dispersion in the S&P 500, noting that five straight days have seen more 52-week lows than highs, despite the index's rally. The surge in the Nasdaq Composite has been driven by the adoption of Meta's autonomous AI agent, Muse, and a surge in semiconductor stocks, particularly AMD, which recently surpassed a $1 trillion market valuation. However, Krinsky advises caution, cautioning that the current tech momentum may fizzle out due to extreme market dispersion and the increasing number of stocks reminiscent of the 2000 dot-com bubble.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}