Nasdaq Slips 0.1% as Chip Selloff Hits Micron and Sandisk
Updated
Updated · CNBC · Jun 30
Nasdaq Slips 0.1% as Chip Selloff Hits Micron and Sandisk
3 articles · Updated · CNBC · Jun 30
Summary
Micron fell 6% and Sandisk dropped 9%, dragging the Nasdaq Composite down 0.1% even as the S&P 500 rose 0.2% and the Dow added 165 points.
The pullback reflected profit-taking in semiconductor shares after a blistering first half, with the VanEck Semiconductor ETF up 82% and strategists warning valuations now need earnings support.
Nvidia lost about 2% and Broadcom 1%, extending pressure on a group that had powered the broader market and helped add $2 trillion in value to Micron, Intel and AMD in the second quarter.
For the first six months of 2026, the Nasdaq gained 12.8%, the S&P 500 9.6%, the Dow 8.9% and the Russell 2000 nearly 22%, underscoring how chip and AI names led the rally into the second half.