Micron Technology is trading at $170.50 (-10%) amid a sharp morning drop fueled by a broad semiconductor selloff and concerns over peaking chip prices.
- Memory-chip stocks are under heavy pressure as investors weigh the impact of Chinese competition and signals of cooling demand.
- The decline reflects broader negative sentiment in AI and chip spending, with the Nasdaq falling 1.16%.
- No company-specific news was reported, indicating the move is primarily driven by sector-wide and macro weakness.