Micron Technology and Intel led semiconductor stocks lower on Monday, extending the sector's selloff. The Philadelphia Semiconductor Index slid about 1.2% in early trading, with Micron shares falling more than 3% and Intel declining roughly 2%. Other chip names including Advanced Micro Devices and Marvell Technology also traded in the red. The weakness persisted despite easing U.S.-Iran tensions that lifted broader market indices, as investors appeared to rotate out of chip stocks following a strong run, with some analysts citing profit-taking. Micron's decline followed a sharp drop on Friday after its earnings failed to impress, amid concerns about oversupply in the DRAM market and softening demand.
Advanced Micro Devices Inc
Marvell Technology Group Ltd
NVIDIA Corporation
Intel Corporation
Micron Technology Inc