Buy SOXL by Oct 19, 2026.

TL;DR: My bull case for semiconductors is that they are becoming the first claim on technology budgets. Spending is being pulled forward and committed earlier across CPUs, memory, networking, storage, custom accelerators, packaging, and semiconductor equipment, while software, consulting, and legacy infrastructure projects are being delayed. I think the market still treats semiconductors as one component of AI capex, when the more important shift is that silicon is taking priority over the rest of the technology stack. Long SOXL disclosure: …