Investors wiped $1.3 trillion from semiconductor stocks in July despite Micron’s 345% revenue surge to $41.5 billion.
Micron Technology’s stock has fallen 27% since mid-June, mirroring a broader sell-off in semiconductor shares. The decline follows the company’s fiscal third-quarter results, which showed a 345% revenue increase to $41.5 billion and a 1,200% earnings-per-share jump to $25.11.
The pullback reflects investor concerns over the sustainability of AI-driven spending, despite Micron’s strong performance. In July alone, the world’s top 20 semiconductor firms lost $1.3 trillion in market value, per reports. Micron’s shares remain up 720% over the past year, but sentiment has shifted amid fears of a spending slowdown.
No immediate market reaction was detailed, though the sector’s volatility underscores broader macroeconomic uncertainties.