Micron Technology (MU) saw its stock plummet by 6.78% in pre-market trading on Thursday, as part of a broader sell-off in the semiconductor sector. This sharp decline comes after U.S. chip stocks had experienced strong gains in the previous trading session.
The downturn wasn't isolated to Micron, as other major players in the semiconductor industry also faced significant drops. Nvidia, ASML, and Super Micro Computer (SMCI) all fell by approximately 4%, while industry giants like Broadcom, AMD, ARM, and Intel saw declines of around 3%. This sector-wide retreat suggests a potential correction or profit-taking following recent rallies in chip stocks.
Analysts are closely monitoring the situation, as the semiconductor industry often serves as a bellwether for broader technology sector trends. The sudden reversal in chip stock performance may indicate shifting investor sentiment or concerns about the sustainability of recent gains in the face of ongoing global economic uncertainties. As the trading day progresses, market participants will be watching to see if this pre-market trend continues and what implications it might have for the wider tech ecosystem.
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