AMD Joins Semiconductor Selloff as Micron Falls 5% and Western Digital Drops 7%
AMD•AMD shares fell on June 26 after reports that OpenAI may delay its IPO until 2027 sparked a semiconductor selloff. Micron sank 5%, Western Digital lost 7% and Applied Materials slid over 3% as AI-linked chipmakers including Nvidia, AMD and Broadcom traded lower.
1. Selloff Trigger
On June 26, reports that OpenAI may delay its IPO until 2027 reignited concerns about the pace and profitability of AI infrastructure investments, leading investors to reduce exposure to AI-linked stocks and reassess valuations across technology sectors.
2. Sector Performance
Memory names led the downturn as Micron’s shares fell 5% premarket and Western Digital dropped 7%, while chip-equipment providers Applied Materials and Lam Research slid over 3%; AI-focused chipmakers including Nvidia, AMD and Broadcom also traded lower.
3. AMD Reaction
Advanced Micro Devices shares moved down alongside peers, reflecting broad caution in the semiconductor sector; the pullback underscores sensitivity to AI funding catalysts and memory-cost pressures ahead of its next earnings report.
