Micron declines as Taiwan union threatens strike over bonus dispute

A Taiwanese union representing Micron workers secured approval for a strike over the company’s bonus scheme. Research director Kathleen Brooks said workers have more leverage because memory prices have surged and Micron is generating enormous revenue, and that investors are factoring this into their outlook.

Nvidia, Advanced Micro Devices and Broadcom shares also declined, as did the U.S.-listed shares of Taiwan Semiconductor Manufacturing and Qualcomm. Micron shares had risen nearly four-fold year to date through the previous close, while the Philadelphia Semiconductor Index had gained more than 86%.