Micron drops 10% as memory-stock selloff wipes out $110 billion
The decline deepened during the session, with losses across memory-related chip stocks accelerating and combined market value erased reaching $110 billion.
Fact Check
The claim matches verbatim the originating Kobeissi Letter post (10% intraday drop, $110 billion market cap erased). The numbers are internally consistent: with Micron at a ~$1.1-1.2T market cap (Reuters, Yahoo Finance/Motley Fool), a 10% drop equals roughly $110B. The wider memory-stock selloff was independently documented (Yahoo Finance reported Micron shedding $350B since June 25 and memory names entering a bear market), so a further 10% down-day is highly plausible. The precise intraday figure is confirmed only by the originating source, so confidence is medium rather than high; but no conflicting evidence was found and the market context strongly supports it.
Summary
Micron fell 10% on the day as a broader selloff in memory stocks gathered momentum. The move left the group down by a combined $110 billion in market capitalization, underscoring how quickly semiconductor shares tied to memory demand can reprice when sector sentiment deteriorates.
Terms & Concepts
- market capitalization: A company’s total equity value
- memory stocks: Shares of companies tied to memory chips