- US tech and semiconductor stocks saw renewed selling pressure on Monday after recent gains
- Intel shares fell 5.45% to $116.30 while SanDisk dropped 3.63% to $1,713.32
- Meta, Microsoft, and Amazon also declined, reflecting broader tech sector caution
US technology and semiconductor stocks came under renewed selling pressure on Monday, with major chipmakers and data-storage companies falling as investors pared exposure to the sector after a strong run last week.
Intel shares dropped 5.45% to $116.30, down $6.70 from the previous close. SanDisk declined 3.63% to $1,713.32, losing $64.48, while Advanced Micro Devices (AMD) fell 3.74% to $606.82, down $23.60.
Western Digital slipped 2.72% to $444.38, a decline of $12.43, while Micron Technology fell 2.54% to $1,054.84, down $27.44. SK Hynix's US-listed ADRs were also under pressure, falling 4.16% to $183.60, or $7.96 lower.
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The weakness extended beyond chip stocks. Meta Platforms fell nearly 4%, Microsoft declined about 2% and Amazon also traded lower, reflecting broader caution across technology shares.
The pullback followed a strong previous week, when Meta surged nearly 13% and Microsoft gained more than 4%.
The sell-off came as investors reassessed elevated technology valuations and reduced risk following recent gains.
Semiconductor stocks, which have been among the strongest performers during the technology-led rally, were particularly vulnerable to profit-taking.
Nvidia, however, bucked the broader trend. The chipmaker advanced after announcing an additional $150 billion authorisation for share buybacks, taking its total repurchase programme to $235 billion.
The contrasting performance highlighted a more selective approach among investors, with fresh corporate actions supporting Nvidia even as selling pressure spread across several other semiconductor and technology names.
The moves also weighed on broader market sentiment, as investors monitored rising bond yields, oil prices and the durability of the technology rally after recent gains.
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