Yes, LRCX & XLNX so far indicated to gap up following earnings last night. However, SOXX only indicated for a relatively small (1.2%) gap up as of 8:28am ET which would only recoup just over 1/2 of yesterday’s losses.
The combined market cap of both LRCX & XLNX isn’t even half of TXN which was down 8.5% yesterday in the wake of their earnings. We’ll just have to continue to monitor the rest of the big semis (TSM, INTC, NVDA, AVGO, QCOM, etc..), focusing on not so much the initial reaction to their earnings & guidance but the reaction that sticks, which usually takes several days to a week or so before the market has had time to fully digest & react. As of yesterday, we have an impulsive rejection off the mid-point of the price channel on SOXX. Ideally (for the short trade), it would be preferable for SOXX to remain below Tuesday’s lows.