The chip unit entered Bear City. BofA analyst said there was no need to panic

The chip unit has officially entered Bear City, and BofA analysts have indicated that recent pressures are “summer adjustments, not fundamental reversals”. After an explosive increase in the first half of the year, the PHLX semiconductor index closed on Friday 20.2 per cent below its historical high on 22 June. The bear market is defined as a decline of 20 per cent or more from a significant recent high。