Micron Sinks 13.3% to $1,051.77 as Korea ETF Warning Deepens Chip Sell-Off
Updated
Updated · Forbes · Jun 23
Micron Sinks 13.3% to $1,051.77 as Korea ETF Warning Deepens Chip Sell-Off
3 articles · Updated · Forbes · Jun 23
Summary
Micron closed down 13.3% at $1,051.77 on Tuesday, wiping out the prior two sessions’ gains as memory-chip stocks sold off globally.
South Korea’s Financial Supervisory Service helped trigger the drop after Governor Lee Chan-jin said he regretted allowing leveraged ETFs tied only to Samsung and SK Hynix, calling them high-risk products still heavily used by retail traders.
Lee said about 92% of holders in those ETFs are retail investors; the products can magnify daily moves by two or three times, sharpening concerns that momentum rather than fundamentals has driven parts of the memory-chip rally.
That scrutiny hit a stock already up more than 260% this year and 761% from a year ago, while investors also braced for Micron’s Wednesday earnings and possible higher U.S. rates by December.
Nvidia fell more than 4%, AMD nearly 6% and Intel 6.1%, underscoring how Micron’s results are being treated as a broader readout on AI demand.
Micron's stock surged 267%. Will its earnings report launch the next AI wave or trigger a massive market correction?
AI's progress is built on hazardous materials. Is the environmental cost of this revolution being ignored by investors?
Is nuclear power the only way to fuel the AI revolution's insatiable energy demand?
Micron’s Q3 2026 Earnings: AI Demand, HBM Competition, and the Margin Sustainability Debate
Overview
Micron Technology’s upcoming Q3 2026 earnings report is a highly anticipated event, with the market expecting a dramatic reaction in the stock price depending on the results. If Micron delivers strong performance and optimistic guidance, shares could surge, but disappointing results or signs of weakening demand may trigger a sell-off. This anticipation is reflected in the options market, which is pricing in significant post-earnings volatility. Investors are closely watching management’s commentary for forward-looking signals, as these insights will shape expectations for Micron’s future in the fast-growing AI-driven memory market.