The David Lin Report · Thursday, July 30, 2026
Milton Berg points out that while the broader Nasdaq index remains near all-time highs, specific subsectors within tech, particularly semiconductors, have already entered bear market territory. He cites examples like Intel and SK Hynix experiencing significant declines, suggesting this could be a leading indicator for other market segments.
“I had up the SMH, which is semiconductor ETF. The VanEck semiconductor ETF. That actually has been falling for quite some time now. I peaked in early, uh, late June. And it's down already 25%.”
“I'm just making the point that certain subsectors within tech have already experienced a bare market. Uh, Intel is already down more than 40%. And, uh, across the pond, SK Hynix in South Korea is down 50%.”
“So, uh, while the overall tech index, the Nasdaq is holding up steadily, uh, close to its all-time highs, the semiconductors have already been selling off.”