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Momentum ETF Falls Over 10% From July Peak as AI Chip Stocks Correct

GateNews
IndicesStocks
According to CNBC on July 8, the iShares MSCI USA Momentum Factor ETF (MTUM) fell over 10% from its July 22 high, entering correction territory amid weakness in memory and semiconductor stocks. Major Wall Street institutions—including UBS, Goldman Sachs, and JP Morgan—attributed the decline to momentum strategy liquidation and profit-taking rather than a fundamental deterioration in AI investment demand. UBS noted that "momentum liquidation is underway, but the AI infrastructure investment thesis does not appear to be shaken," characterizing the move as orderly risk reduction. JP Morgan recommended using the dip as a buying opportunity, with its trading desk stating "momentum liquidation appears nearly complete" and "this decline presents a time to buy."
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