On July 22, Direxion Daily Semiconductors Bull 3x Shares declined 5.95% in regular trading, trading at $151.68/share, with turnover of $1.343 billion. The decline was primarily driven by mounting concerns over chip inflation and profit-taking following the previous session's sharp rally.

On the news front, TSMC plans to raise wafer fabrication prices for both advanced and mature process nodes by up to 10% in 2027, with an additional 10% to 15% surcharge on new high-performance computing chip orders exceeding client forecasts. The price increases aim to offset rising material, equipment, and overseas facility construction costs, affecting 7nm and more advanced nodes that contributed approximately 77% of TSMC's revenue last quarter.

Wall Street strategists have warned that Korean DRAM export prices have surged 370% year-over-year, far exceeding historical cycle peaks, intensifying fears that chip inflation could impose significant cost pressure on the AI boom. Additionally, the ETF surged nearly 15% in the prior session on bullish industry forecasts, and the current pullback reflects concentrated profit-taking by investors.

The fund invests at least 80% of its net assets in financial instruments that provide 3X daily leveraged exposure to a modified float-adjusted market capitalization-weighted index tracking the thirty largest U.S. listed semiconductor companies.

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