Are Semiconductors Now in Bubble Territory?

This morning I flag some caution around the semiconductor index SOXX, which has run far enough that it is hard to get excited about it from a value investor standpoint. I also dig into a structural problem with the IGV ETF and its 8.5% cap on individual holdings, which prevents true market cap weighting and makes it a sloppier vehicle than most people realize. We also talk about Nvidia's path to $10 trillion and beyond, and why CUDA as a software platform is the real engine that gets them there. Jane Street just reported a record $39.6 billion in trading revenue for 2025, beating JPMorgan with only 3,500 employees, and I talk about what that says about where the smart money is operating today. And I highlight CAVA, is everyone too bullish on this chain?Rigatoni Capital is a daily morning podcast for long term, buy and hold investors. This is not a show for short term traders or people looking for quick wins. Every morning I go through the most important headlines in finance, markets, and macro, and call out fake narratives in the financial media so you know what actually deserves your attention and what to ignore.Subscribe to Rigatoni Capital on Substack: https://rigatonicapital.substack.comDisclaimer: This blog is for informational purposes only and does not constitute financial advice. All opinions are my own, and I am not a financial advisor. The information provided reflects my personal views and is intended to encourage discussion and thought among readers. Investments involve risk, including the loss of principal, and past performance is not indicative of future results. Always conduct your own research or consult with a qualified professional before making any financial decisions.#investing #stocks #finance #wallstreet #stockmarket #investor #wealth #money #financialfreedom #passiveincome #dividends #compounding #longterminvesting #buyandhold #valueinvesting #portfoliomanagement #bitcoin #crypto #macro #Nasdaq #SPY #QQQ #SP500 #Nvidia #NVDA #CUDA #SOXX #Semiconductors #IGV #JaneStreet #CAVA #Chipotle #CMG #AIstocks #stockanalysis #marketwatch #rigatonicapital $NVDA $SOXX $IGV $CAVA $CMG $QQQ