Micron shares plunged 13% ahead of its quarterly results due today, as semiconductor stocks drove a 3% drop in the Nasdaq 100 and US dollar strength weighed on markets. Investors view the upcoming earnings as a key test for AI-related revenue amid broader industry selloff.
Micron shares plunged 13% pre-market, contributing to a 3% slide in the Nasdaq 100, while the S&P 500 fell 1.4% and the Dow Jones slipped 0.1% as investors reduced exposure to semiconductor names.
Micron is set to release its quarterly results today, with analysts watching AI-driven memory demand, revenue guidance and capital expenditure outlook for indications of sector momentum.
The US dollar cleared key resistance levels against the Swiss franc and other currencies, intensifying headwinds for globally exposed chip manufacturers including Micron by making their products more expensive abroad.
Weakness in AI-related hardware stocks accelerated the selloff, with investors pulling back from high-growth semiconductor companies after recent rallies, positioning Micron’s earnings as a barometer for future AI spending trends.
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