Micron Shares Fall as China Memory Competition and AI Spending Concerns Weigh on Chip Stocks

Micron Technology shares fell 4.5% Tuesday as investors weighed competition from Chinese memory-chip maker ChangXin Memory Technologies (CXMT), questions about artificial-intelligence spending and labor uncertainty at Micron’s Taiwan operations. The stock reached its lowest level since Sept. 16 and extended its decline to four consecutive sessions as of 10:46 a.m. ET (14:46 UTC). The Philadelphia Semiconductor Index fell 1.5%, marking its fifth straight daily decline and its lowest level in about four weeks. Nvidia declined 0.4%, Broadcom fell 0.3%, Intel dropped 1.1%, AMD slipped 1.2% and Marvell Technology lost 2.2%.

Source: TokenPost