Micron Technology Shares Plunge Over 17% Amid Semiconductor Sector Selloff
The semiconductor sector experienced a significant downturn on Thursday, driven by growing investor concerns regarding the sustainability of AI infrastructure spending. Micron Technology (MU) was hit particularly hard, with its stock price dropping more than 17% during the trading session. The broader selloff impacted various chip stocks as market sentiment shifted away from high-growth semiconductor plays. Despite the sharp decline in share price, Micron currently maintains one of the lowest forward price-to-earnings (P/E) ratios among U.S. chip stocks.
Tickers: $MU
Topics: AI Infrastructure Spending Semiconductor Sector Stock Selloff