Micron Falls Again as AI Memory Trade Faces Issues
Micron Technology fell 4.7% to $891.88 on Wednesday as selling hit AI-linked chipmakers. The stock has traded like a top AI bet this year, but now investors are pushing back on its valuation. Micron has been a big 2026 winner among semiconductor names. Micron’s business did not collapse on Tuesday, but investors lost patience. Reuters said the Philadelphia semiconductor index dropped 3.6% Wednesday. Nvidia and Broadcom were heavy drags on the S&P 500. The Nasdaq Composite shed 1.98%.