Which stocks were hit the hardest?

Micron (MU) and Intel (INTC) were the hardest hit, followed by NVIDIA (NVDA), AMD (AMD), and Marvell (MRVL).

Did any stocks rise in the same session?

Yes, software stocks like Palantir (PLTR) rallied while chip stocks declined.

Micron and Intel Lead Chip Selloff as Software Stocks Rally

Micron and Intel led a sharp selloff in semiconductor stocks, while software shares rallied. The move comes amid concerns over slowing chip demand and profit-taking.

June 29, 2026

2 min read

Source: GuruFocus.com

Semiconductor stocks experienced a notable decline in the latest trading session, led by Micron Technology (MU) and Intel (INTC), as a broad selloff hit the sector. In contrast, software stocks such as Palantir (PLTR) rose, reflecting a shift in investor preferences.

Possible Reasons

No single clear cause has been identified, but analysts point to several factors:

Demand concerns: Reports of potential slowdown in chip demand, especially from automotive and PC sectors.
Profit-taking: After a strong run for chip stocks, investors may be locking in gains.
Sector rotation: Flows moving from chips to software, which has shown more resilience.

Context

The selloff follows weeks of strong gains for chip stocks, with NVIDIA (NVDA) and AMD (AMD) posting significant increases. Marvell (MRVL) and Micron were among the hardest hit.

Similar Moves in the Sector

Losses were not limited to Micron and Intel but extended to:

NVIDIA (NVDA): Notable decline.
AMD (AMD): Down.
Marvell (MRVL): Lower.
Micron (MU): Led the losses.

Meanwhile, software stocks like Palantir (PLTR) rallied, suggesting a sector rotation.

Frequently Asked Questions

Chip stocks fell led by Micron and Intel due to demand concerns and profit-taking, as investors rotated into software stocks.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.