On September 14, Micron Technology fell 6.61% in regular trading, trading at $917.11/share, with turnover of $5.837 billion. The decline was driven by a convergence of negative catalysts hitting the semiconductor and storage chip sectors.
On the news front, Anthropic CEO Dario Amodei published an essay over the weekend calling for a slowdown in AI development, which subsequently received public endorsement from Elon Musk and Sam Altman. The coordinated stance from major AI industry leaders sparked broad concerns over a potential deceleration in AI supply chain demand, putting severe pressure on memory chip and semiconductor stocks. Storage peers fell in tandem, with SK Hynix dropping over 7%, SanDisk down over 6%, and Western Digital losing over 5%.
Compounding the sell-off, U.S. August PPI rose 5.4% year-over-year, exceeding the 5.3% estimate, prompting traders to fully price in a Federal Reserve rate hike in October. The macro headwinds further suppressed technology stock valuations. Micron is scheduled to report earnings on September 30, with consensus EPS expectations at approximately $31.17.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)