๐ Micron $MU slides -5% premarket as Samsung earnings spark memory chip selloff
Samsung reported a stunning 19-fold jump in Q2 operating profit overnight โ but traders sold the news hard. Samsung shares tumbled ~8.8% in Seoul, dragging Micron Technology ($MU) down ~4.9% and SanDisk ($SNDK) off ~4.7% in US premarket. Nasdaq-100 futures are down ~1% as the chip-sector weakness bleeds into broader tech. Despite AI driving red-hot memory demand, valuations in the space appear stretched. Not financial advice. Is this chip dip a buying opportunity heading into Q3 earnings season?
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