The iShares Semiconductor ETF, better known by its ticker SOXX, just posted the kind of month that makes technical analysts reach for the smelling salts. A 37% gain in April 2026, fueled by a near-record 16-day winning streak, has pushed the fund to historic highs.

The numbers behind the streak

SOXX tracks the biggest names in the chip business: NVIDIA, Broadcom, AMD, and their peers. A 16-day winning streak is not normal behavior for a sector ETF. The 37% monthly gain contributed trillions to the broader semiconductor market’s valuation, but it also pushed the sector into territory that analysts are openly calling overextended.

The crypto spillover effect

Bitcoin crossed $75,000 on March 17, 2026, setting the…