GraniteShares 2x Long MU Daily ETF is trading 10.2% lower in pre-market action following Broadcom’s disappointing AI revenue outlook and a broader rotation out of high-valuation growth stocks.
- The decline reflects renewed weakness in the semiconductor and information technology sectors after a multi-day selloff.
- Risk-off sentiment ahead of the U.S. Employment Situation report is further pressuring chip names and leveraged exposure to Micron Technology.
- Investors are increasingly rotating out of high-growth semiconductor assets as valuation concerns mount across the tech landscape.