What occurred: Semiconductor stocks fell on Tuesday, with the PHLX Semiconductor Index (^SOX) falling greater than 3% as traders continued to unwind positions in one of many market’s hottest AI-driven sectors this yr. US-listed shares of reminiscence and storage leaders Micron Technology (MU) and SK Hynix (SKHY) tumbled greater than 8%, whereas Sandisk (SNDK) dropped 13%….
The final time SK Hynix Inc. (NASDAQ:SKHY) suffered a month-to-month decline this extreme, Lehman Brothers had just collapsed. Shares of the South Korean reminiscence big have plunged roughly 41% this month, marking their worst month-to-month efficiency since October 2008. The selloff accelerated Tuesday, with the inventory dropping one other 14% in Seoul simply sooner or…
What occurred: Nvidia (NVDA) inventory tumbled nearly 5% on Monday, weighing on the remaining of the chip sector. As a outcome of the pullback, Apple (AAPL) surpassed Nvidia because the world’s most precious public firm. Peer chipmaker AMD (AMD) additionally declined greater than 5% on Monday, and reminiscence makers plunged, with Micron (MU) and SK…
Micron (MU) traders took some income, sending shares of the reminiscence chip maker down 4% in Wednesday afternoon buying and selling. But the day’s transfer did little to dent a formidable run within the stock this month. Micron shares are up 40% for the reason that starting of April, as traders have grown bullish on…