Micron shares fell 6% after SK Hynix posted a profit forecast 8% below consensus, triggering a record 15% plunge in SK Hynix and broad semiconductor

The South Korean chip giant plunged more than 15 per cent on Monday (Jul 13).

Micron shares fell 6% after SK Hynix posted a profit forecast 8% below consensus, triggering a record 15% plunge in SK Hynix and broad semiconductor

Chip stocks declined as AI spending concerns, SK Hynix's sharp fall and profit booking hit Nvidia, AMD, Micron and other semiconductor shares.

SK Hynix (NASDAQ: SKHY) stock slid nearly 7% premarket on Wednesday as early investors booked profits following its record-breaking $26.5 billion U.S. cross-listing debut.

Micron Technology shares fell 10%, erasing $110 billion in market cap as memory chip selloff hits SK Hynix, Samsung, and Ondo's tokenized MUon stock.