NASDAQ Drops 3% as Micron, Intel, AMD Tumble While IBM Surges on Upgrade

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โดย Yahoo Finance·Read original
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The NASDAQ fell 3% on Tuesday as a tech sell-off led by Micron Technology dragged down major chip stocks, while IBM bucked the trend with a 5% gain. Micron cratered 11% despite a forward P/E of 11 and an 882% one-year gain, with MU stock up 230% year to date and 716% over the past year, in what analysts described as a positioning unwind. Intel and AMD also declined, with AMD sliding nearly 5%, while Oracle fell 4% after disclosing it cut 21,000 jobs to fund its largest-ever cloud buildout. IBM surged 5% following a JPMorgan upgrade to overweight, driven by its generative AI book of business growing to over $12.5 billion and a 51% jump in mainframe revenue.

Impact on stocks 8

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