Market
Forget The Chip Boom: Wall Street's 'Ultimate Contrarian Trade' Favors Software For 2026
ZivFin AnalysisApr 19, 2026
Technology sector leaders across software and semiconductors are approaching a potential inflection point, as BTIG Chief Market Technician Jonathan Krinsky outlines a contrarian shift favoring software over chip stocks. Extreme Valuation Gap Signals Reversal Setup Krinsky said the spread between software stocks in the S&P 1500 and semiconductor stocks in the SOX index has reached an unprecedented level, with the ratio falling 43% below its 200-day moving average. The software stocks in the S&P 1