Semiconductor Index (SOX)
Semiconductors sit upstream of electronics, autos, and AI infrastructure.
8.7kIndex
Trend YoY growth is +30.3%, accelerating by 15 bps/month over the last 5Y. Deviations have remained above trend for 93 consecutive periods. Latest: +123.2%, 92.9 pp above trend, a 3.0σ deviation. The latest YoY reading is boosted by 40.1 pp due to an easy comparison base from Apr 9.
Level
YoY %
y = 21.1% + 15 bps/mo · t
Deviation from trend
Forecast
Rolling 1Y trend forecast
| Forecast made in | May '25 | Jun '25 | Jul '25 | Aug '25 | Sep '25 | Oct '25 | Nov '25 | Dec '25 | Jan '26 | Feb '26 | Mar '26 | Apr '26 | May '26 | Jun '26 | Jul '26 | Aug '26 | Sep '26 | Oct '26 | Nov '26 | Dec '26 | Jan '27 | Feb '27 | Mar '27 | Apr '27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May '25 | -5.6% | -11.7% | -17.7% | -23.8% | -30.0% | -35.9% | -42.1% | -48.1% | -54.2% | -60.4% | -65.9% | -72.1% | -78.0% | -84.2% | -90.1% | -96.3% | -102.4% | -108.4% | -114.5% | -120.5% | -126.7% | -132.8% | -138.4% | -144.5% |
| Jun '25 | -11.4% | -17.5% | -23.8% | -30.1% | -36.2% | -42.4% | -48.5% | -54.8% | -61.1% | -66.8% | -73.1% | -79.2% | -85.5% | -91.5% | -97.8% | -104.1% | -110.2% | -116.5% | -122.6% | -128.9% | -135.2% | -140.8% | -147.1% | |
| Jul '25 | -14.5% | -20.6% | -26.6% | -32.4% | -38.5% | -44.3% | -50.3% | -56.3% | -61.8% | -67.8% | -73.7% | -79.7% | -85.5% | -91.5% | -97.6% | -103.4% | -109.4% | -115.3% | -121.3% | -127.3% | -132.8% | -138.8% | ||
| Aug '25 | -13.3% | -18.7% | -23.9% | -29.4% | -34.6% | -40.0% | -45.5% | -50.4% | -55.8% | -61.0% | -66.5% | -71.7% | -77.1% | -82.6% | -87.8% | -93.2% | -98.5% | -103.9% | -109.3% | -114.2% | -119.6% | |||
| Sep '25 | -9.7% | -14.0% | -18.4% | -22.6% | -27.1% | -31.5% | -35.5% | -39.9% | -44.1% | -48.6% | -52.8% | -57.2% | -61.6% | -65.9% | -70.3% | -74.6% | -79.0% | -83.4% | -87.4% | -91.8% | ||||
| Oct '25 | -0.7% | -3.2% | -5.6% | -8.1% | -10.6% | -12.9% | -15.4% | -17.8% | -20.3% | -22.8% | -25.3% | -27.8% | -30.2% | -32.7% | -35.1% | -37.6% | -40.1% | -42.4% | -44.9% | |||||
| Nov '25 | +12.9% | +13.2% | +13.5% | +13.8% | +14.0% | +14.3% | +14.6% | +14.8% | +15.1% | +15.4% | +15.7% | +15.9% | +16.2% | +16.5% | +16.8% | +17.0% | +17.3% | +17.6% | ||||||
| Dec '25 | +25.1% | +27.5% | +29.9% | +32.0% | +34.4% | +36.7% | +39.1% | +41.4% | +43.7% | +46.1% | +48.4% | +50.8% | +53.1% | +55.5% | +57.8% | +60.0% | +62.4% | |||||||
| Jan '26 | +36.5% | +40.6% | +44.3% | +48.5% | +52.5% | +56.6% | +60.6% | +64.7% | +68.9% | +72.8% | +77.0% | +81.0% | +85.1% | +89.2% | +93.0% | +97.1% | ||||||||
| Feb '26 | +50.0% | +55.4% | +61.3% | +67.1% | +73.0% | +78.8% | +84.7% | +90.6% | +96.4% | +102.3% | +108.1% | +114.0% | +120.0% | +125.4% | +131.3% | |||||||||
| Mar '26 | +61.9% | +69.2% | +76.2% | +83.4% | +90.4% | +97.7% | +104.9% | +111.9% | +119.2% | +126.2% | +133.4% | +140.6% | +147.2% | +154.4% | ||||||||||
| Apr '26 | +75.2% | +83.2% | +91.4% | +99.3% | +107.6% | +115.8% | +123.7% | +132.0% | +139.9% | +148.1% | +156.3% | +163.8% | +172.0% |