Micron Technology shares plunged 4.71% after Intel’s stock tumbled 9.66% amid renewed doubts over sustaining AI-driven memory and logic demand. South Korean memory peers erased earlier gains as the regional chip index closed lower on the sector-wide selloff.
Intel shares slid 9.66% and Micron Technology fell 4.71% in U.S. trading as investors questioned whether the AI-driven memory and logic demand surge can justify current valuations. The sudden selloff erased billions in combined market value across leading semiconductor names.
SK Hynix bucked the decline with a 2.41% gain, but other South Korean memory stocks reversed early advances and closed lower. The Seoul memory index ended down after rallying through the prior week, reflecting spillover pressure from U.S. chip weakness.
Micron’s 4.71% drop was the steepest among major DRAM suppliers as traders weigh potential revisions to chipmakers’ growth forecasts. Attention now turns to the firm’s upcoming earnings release for signs of sustained AI-related orders.
