Well 1st, you quoted me like that was my quote. That was clearly a cut and paste. I'm not an analyst covering semi-conductors. A little misleading to the readers here. 2nd, take that chart out 40 years and see what it looks like.
Dude, personal computer only gained traction as the price of computer came down within the last 20 years. Granted, you have a point. But now that semiconductor will be powering up more smart phones than PC going forward, I'm pretty sure SOX and Nasdaq will correlate even more. Just my 2 cents.
You may be right Schiz, but you've been trading for decades correct? For years the generally accepted mantra on the chip stocks was they were a boom and bust cyclical type play. Maybe now is different though. In fact it probably is, the economies of the world's richest nations are now entirely premised on a digital metamorphosis going forward affecting every aspect of life, so yes, it's a new age and the chip stocks will probably mirror general economic conditions more than they historically have.
I remember in the 1990s I used to own a lot of the chip equipment companies before they were all bought by LRCX & AMAT, the key ratio for evaluating chip stocks was the book-to-bill ratio and it was very cyclical. I guess now chips are in everything even fridges & lightbulbs. Semiconductors are the new Industrials -- I've some analysts say this before.