๐ Chip stocks crater: Micron $MU -5%, SMH ETF -3%+ as Samsung earnings spook the sector
Semiconductor stocks are getting hit hard this morning after Samsung's earnings sparked fears that Q2 expectations across the chip sector are simply too elevated. Micron (MU) is leading the wreckage at roughly -5%, with AMD, Broadcom, Marvell Technology, and KLA all deep in the red. The VanEck Semiconductor ETF (SMH) is down more than 3%, dragging the Nasdaq lower by ~0.7%. The concern: unlike Q1, the bar heading into this earnings season is sky-high with the S&P sitting near record levels. Are chips taking a healthy breather before results, or is the AI trade starting to crack? Not financial advice.
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