U.S. premarket chip stocks slide as Micron retreats after earnings rally

U.S. premarket trading on June 26 was broadly weaker across semiconductor and other tech-linked names. Micron fell nearly 5% after rallying more than 15% on blowout earnings earlier in the week, while Intel dropped just over 3%, AMD and Lattice Semiconductor fell nearly 3%, and NXP, Qualcomm, Broadcom, Nvidia, TSMC and Tesla declined more than 1%. Sandisk, Arm, Marvell, storage and optical-networking names, and crypto-linked equity MSTR also moved lower, even as Microsoft, Amazon, IBM and Apple edged higher. The weakness coincided with a wider sell-off in chip stocks across the U.S., Europe and Asia as investors weighed the rising cost of building AI infrastructure despite strong demand from hyperscalers for memory used in data centers.

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