Semis continued to lag on Monday amid concerns about weakening Apple (AAPL) iPhone sales, with 24 of the Philadelphia Semiconductor Index's 30 components falling. Declines were paced by Western Digital (WDC) and Intel (INTC) . Nvidia shares reversed course mid-day as CEO Jensen Huang took the wraps off powerful new gaming chips.
The SOX, as it's called on Wall Street, is now trading below its 50-day, 100-day and 200-day moving averages.
The SOX has under-performed the red-hot Nasdaq Composite