SanDisk Micron AMD shares tumble as Nasdaq erases $1 trillion
Semiconductor giants like SanDisk, Micron, and AMD saw their stock prices drop sharply on Tuesday: SanDisk fell 12%, Micron was down 9%, and AMD slipped 5%.
Intel and Western Digital also took hits, with losses of nearly 7% and about 8%.
The tech sector overall had a rough day, as Nasdaq futures fell about 2.5%, erasing over $1 trillion in market value.
Big tech AI spending worries investors
Big companies like Microsoft, Amazon, and Alphabet have been pouring money into artificial intelligence projects, boosting demand for memory chips.
But now investors are worried those investments might not pay off quickly enough.
This uncertainty even hit South Korean chipmakers and SpaceX, whose valuation dropped again, losing more than $600 billion in just three days.
Many investors are locking in profits after the big artificial intelligence-driven surge, showing they are feeling cautious about what's next.