But the recent selloff in semis isn’t anything alarming give...

But the recent selloff in semis isn’t anything alarming given historical patterns. Renaissance Macro Research’s Jeff deGraaf told CNBC’s “Closing Bell” Monday that the summer is typically a tough time sector, noting that the third quarter typically registers as the worst period for the industry.

“The good news is I think $NVIDIA(NVDA.US)$ is still in the long-term uptrend,” he said. “I think these corrections probably prove to be buyable. You just have to temper that sentiment.”