Global chip sales fell year-over-year for a seventh straight month in July, according to the Semiconductor Industry Association late Tuesday. For July, global sales fell 15.5% to $33.4 billion from the year-ago period. "While global semiconductor sales in July were once again down on a year-to-year basis, month-to-month sales were up slightly," said John Neuffer, SIA president and CEO, in a statement. July sales were worst in the Americas with a 27.8% drop, followed by China, where sales fell 14.1% from a year ago. In June, SIA reported global sales had dropped for the third straight quarter and for the sixth straight month. The PHLX Semiconductor Index /zigman2/quotes/210598361/realtime SOX +2.65% is up 5.5% over the past 12 months, compared with a 0.2% rise in the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.48% and a 2.9% decline in the tech-heavy Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +1.29% .