BUZZ-Chip selloff evaporates $1 trillion in market value
NVIDIA Corporation NVDA | 0.00 | |
Broadcom Limited AVGO | 0.00 | |
Micron Technology, Inc. MU | 0.00 | |
Advanced Micro Devices, Inc. AMD | 0.00 | |
Marvell Technology MRVL | 0.00 |
** U.S.-traded chipmakers tanking and losing around $1 trillion in stock market value on Fri, with deep losses in AI heavyhitters including Nvidia NVDA.O, Micron Technology MU.O and Advanced Micro Devices AMD.O as Broadcom's AVGO.O weak report from earlier this week reverberates
** PHLX chip index .SOX last down almost 8%, on track for its deepest one-day loss since Wall Street's "Liberation Day" selloff in April 2025
** NVDA's 5% loss cuts ~$270 bln from its market cap. MU down 9.1%, evaporating ~$100 bln in value. Recent darling Marvell Technology MRVL.O giving back 10.3%, AMD losing 9.2%
** Fri's losses add to declines among chipmakers since Broadcom on Weds gave qtrly results that fell short of lofty expectations around demand for its custom AI chips business
** Worries about higher interest rates also spooking investors across U.S. stock market following stronger-than-expected jobs data .N
** SOX now down ~9% since AVGO report, leaving it down ~2% so far in June
** SOX remains up ~77% in 2026 thanks to insatiable demand for AI-related stocks