Micron Technology Drops 7.7% Following Broadcom’s 12.6% Forecast Miss
MU•MU•MU•MU•Micron Technology shares plunged 7.7% after U.S. memory chip stocks fell on sector-wide AI demand concerns triggered by Broadcom’s 12.6% revenue forecast shortfall. The selloff weighed on Asian markets as South Korea’s Kospi slid 5.1% and SK Hynix shares tumbled 8.4%.
Broadcom’s shares tumbled 12.6% after its quarterly revenue forecast fell short of analysts’ expectations, triggering concerns over AI-driven growth across semiconductor names. Investors sold AI-related tech stocks heavily in U.S. futures trading following the warning.
Micron shares dropped 7.7% as investors reacted to the broader chip downturn and questioned upcoming demand for memory chips tied to AI applications. The slide marked Micron’s largest single-day loss in weeks.
The selloff spilled into Asian markets, with South Korea’s Kospi index plunging 5.1% and SK Hynix shares tumbling 8.4%. Japan’s Nikkei fell 1.4%, while regional benchmarks such as Hong Kong’s Hang Seng and Australia’s ASX 200 also registered losses.
