Semiconductor stocks resume sell-off ahead of Micron earnings

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Summary · why it matters

Tech stocks turned lower on Wednesday afternoon as concerns over the artificial intelligence trade reemerged ahead of Micron earnings. The Philadelphia Semiconductor Index dropped over 1% after rising earlier in the day. Shares of memory giant Micron continued to fall ahead of its third quarter earnings after the bell, which will provide another update on the broader AI build-out. Nvidia stock retreated 1% and Qualcomm fell 4%, while both held events on Wednesday. Alphabet stock rose less than 1% after S&P Dow Jones Indices announced it will replace Verizon in the Dow Jones Industrial Average.

Impact on stocks 5

Semiconductors · 2 stocks
Micron Technology Inc
MU
▼ NegativeCapitalDemandrelevance

Micron shares falling ahead of its Q3 earnings report, which will update on AI build-out.

Artificial Intelligence± Mixed · 2 stocks
NVIDIA Corporation
NVDA
▼ NegativeDemandrelevance

Stock retreated 1% amid broader semiconductor sell-off on AI trade concerns.

Alphabet Inc Class C
GOOG
▲ PositiveCapitalrelevance

Alphabet to replace Verizon in Dow Jones Industrial Average, a positive index inclusion event.

Cloud & Digital Infrastructure · 1 stocks