Micron Technology is trading 10.8% down at $170.00 as memory and AI-related chip names slump on mounting concerns over peaking DRAM and storage prices and intensifying Chinese competition.
- The drop reflects a broader global semiconductor selloff, with investors questioning the sustainability of heavy AI infrastructure spending.
- Sector-wide pressure follows the major IPO of Chinese DRAM maker CXMT and cautious reports regarding future demand.