iShares Semiconductor ETF (SOXX)

CITIC Securities (CSC) cites SEMI data forecasting global semiconductor equipment sales will reach a record $165.9B in 2026, up 23.2% year-on-year, and grow further to $229.5B by 2028.

SOXX holds concentrated exposure to semiconductor equipment makers; a projected multi-year expansion in equipment spending, if realized, would expand the addressable revenue base for those constituents. CITIC Securities also notes that pricing power is shifting structurally toward equipment and parts makers, which could affect margin expectations across the sector. The 12–18 month lag cited in the source suggests the revenue impact on equipment firms may not appear immediately in near-term earnings.