Semiconductor Stocks: Market Breadth Collapses as Heavy Selling Accelerates

Published November 10, 2026 · Data through November 6, 2026 · 33 monitored companies · Benchmark: PHLX Semiconductor Index (.SOX)

The semiconductor sector's retreat has broadened into a sharp deterioration in market structure. In our 33-company SEMICONDUCTORS universe, the median stock fell 9.99% during the week ending November 6, 2026, while only five companies (15.15%) remained above their 200-day moving average (MA200). Rising trading volume accompanied widespread declines. This is evidence of severe selling pressure, not proof of a definitive capitulation or market bottom.

1. A broad weekly decline—not an isolated large-cap pullback

Just four stocks advanced while 29 declined, a down-week participation rate of 87.88%. The equally counted median return was −9.99% and the mean was −9.94%. Twenty-five of the 33 companies fell by more than 5%, 16 lost more than 10%, and four declined by over 20%.

The weakness extended across chip designers, manufacturers, equipment providers and businesses elsewhere in the semiconductor supply chain. The PHLX Semiconductor Index dropped 12.15% over the same weekly measurement window; its capitalization-weighted construction should not be confused with the cross-sectional median of our selected stocks.

2. Market breadth is the defining signal

On October 2, 27 of 33 companies (81.82%) traded above their MA200. By November 6, only 5 of 33 (15.15%) did so: a contraction of 66.67 percentage points across five weeks. Compared with four weeks earlier, the decline is 60.61 percentage points.

The five companies still above MA200 were Skyworks Solutions (SWKS), Advanced Micro Devices (AMD), Texas Instruments (TXN), Synopsys (SNPS) and NXP Semiconductors (NXPI). Yet all five fell during the latest week. Remaining above a long-term average is a measure of trend positioning, not evidence of near-term immunity.

The median stock closed 17.43% below its MA200; 51.52% of companies fell below the historically calibrated lower-decile distance threshold. The median reading was among the weakest in the 155-week monitored series. Those extremes refer to this particular present-day research basket, not to a comprehensive historical semiconductor industry index.

3. Selling coincides with unusually heavy volume

Median five-session trading volume rose to 1.69 times the preceding 60-session comparison, versus 1.17 times the prior week. In the most recent week, 23 companies (69.70%) registered volume at or above 1.5× their baseline, compared with five (15.15%) in the previous measurement.

Of those 33 companies, 21 (63.64%) fell over five sessions on elevated relative volume; only two rose under the same high-volume condition. The median 20-session signed-volume balance weakened to −21.55%, versus −19.36% a week earlier. Only six of 33 companies had a positive 20-session signed-volume balance.

These measures describe trading intensity and directional price-volume association. They do not reveal investor identity, establish net institutional selling or independently confirm a final capitulation.

4. Deep drawdowns amplify the structural damage

The median drawdown from each security's highest closing price in the preceding 52 weeks reached −39.01%, versus −37.93% one week earlier. 23 of the 33 companies (69.70%) stood more than 30% below their respective 52-week closing highs.

Extreme drawdowns can precede sharp rebounds, but the drawdown itself is a backward-looking description of damage, not a forecast of when a recovery will start.

5. The divergence versus the .SOX benchmark

Despite sector-wide selling, 20 of 33 stocks outperformed the PHLX Semiconductor Index over one week. The benchmark declined more than the median company, so relative outperformance here often means falling less, not necessarily posting a positive return.

The near-term comparison contrasts with year-to-date leadership: only 11 of 33 companies exceeded the index over that longer horizon. It is consistent with changing concentration and uneven industry performance, but it does not, by itself, prove a bullish rotation toward the rest of the sector.

6. The companies displaying relative resilience

Lattice Semiconductor stands out: a 12.96% weekly rise against a 12.15% decline in .SOX, a 25.11-percentage-point differential, on relative volume near 2.82×. It remained approximately 9.62% below MA200, however. Strong weekly relative performance should not be represented as a confirmed long-term trend reversal.

7. The sharpest weekly losses

Micron remains fourth in the separate global ranking despite losing 22.01% in the latest week. AMD ranks first globally yet lost 11.05% for the week. These examples illustrate why the global and weekly ranks must be read as distinct analytical perspectives, not interchangeable buy or sell signals.

8. Interpretation: selling climax or an unfinished decline?

Measured observations: MA200 participation collapsed, median prices and drawdowns weakened, and an unusually large share of stocks fell on elevated volume. Interpretation: these features are consistent with heavy sector liquidation and widespread risk reduction. What remains unconfirmed: seller exhaustion, a durable price low and the timing of any subsequent recovery.

To distinguish a short-lived technical bounce from a more credible recovery, we would look for an expanding share of companies above MA200, improvement in the median distance to MA200, easing downside volume participation and more durable relative strength among industry leaders. Further deterioration would argue against prematurely calling a bottom.

9. Conclusion

Semiconductor breadth has shifted from broad strength to structural weakness in five weeks. The market's deterioration now extends well beyond headline index performance: 29 of 33 tracked securities fell, the median return approached −10%, just five stocks stayed above MA200 and high-volume declines reached most of the basket.

These conditions deserve close monitoring because deep, widely shared corrections can be followed by powerful rebounds. The data do not yet confirm that such a rebound is underway, nor do they establish the probability of a market bottom.

10. Complete weekly ranking · 33 companies

Below is the complete official Weekly Analysis JSON publication ranking for all 33 monitored companies, not a sample. The nine fields are Weekly Rank, Global Rank, Ticker, Company, Last Close, 1W, 4W, 3M and YTD. Use the desktop search and sortable column headers, or the independent mobile search and sorting control. The copy button exports the full ranking, including rows hidden by a search filter.

Methodology and limitations

The dataset covers 155 weekly dates from November 24, 2023 to November 6, 2026 for this current 33-security research basket. The sample is fixed to the currently monitored companies, not a historically reconstituted industry membership list. Sector breadth and medians give each eligible company one observation; the .SOX index follows its own methodology. Weekly price returns, moving averages, drawdowns and relative volume depend on the supplied historical data, including adjusted corporate actions. Percentage-point differences are not percentage returns.

The 52-week drawdown uses each company's highest available closing price over the preceding 52-week window. MA200 reflects a 200-session simple moving average. Relative volume compares recent sessions with a preceding reference period. Signed-volume balance is a descriptive directional volume measure, not a record of investor orders. Rankings are independent relative-strength views and do not disclose proprietary scoring formulas or trading rules. Different currencies and company structures can affect price-level comparisons; returns are expressed in percentages.

Figures are for independent market research, not personalized investment advice. Read our public methodology and indicator interpretation guide.

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