Chips stocks including SK Hynix, Intel, Micron and Broadcom slumped over 5% on Monday as the sell-off spree from investors deepened after they saw a notable rise in the previous week.
These stocks had rallied up to 23% on Thursday, led by Sandisk, after Korean giant Samsung Electronics flagged that the on-going memory (RAM, DRAM and NAND) may persist till 2028 on due to strong demand from hyperscalers.
SK Hynix Inc fell 3.90% to trade at $128.13 at $138.13 at 10:28 a.m. GMT on the Nasdaq Index. Micron Technology Inc had its stock price fall 1.61% to $809.70 at 10:26 a.m. GMT on the index. Intel Corp.'s share price declined 0.40% to $89.84 at 10:33 a.m. GMT. Broadcom's stock declined 1.68% to $382.74 at 10:42 a.m. GMT.
(This is a developing story.)
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