Something unusual is happening in the semiconductor sector. Companies are posting some of the strongest quarterly results in the industry’s history, and investors are selling anyway. TSMC reported 77% annual earnings growth this week and fell 4%. Broadcom beat estimates in June and dropped 15%. SK Hynix debuted on Nasdaq, surged 13% on day one, then gave back 8% the next session while its Seoul-listed shares posted their worst day ever. The Philadelphia Semiconductor Index hit two-month lows this week even though every major chip company reporting this earnings season has beaten expectations.