---
title: "U.S. stock market midday update: POET Tech down 9.72%, frequent class action lawsuits raise legal risk concerns"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290601629.md"
description: "POET Tech fell 9.72%; Micron Technology fell 13.25%, with a transaction volume of USD 49.4 billion; NVIDIA fell 3.55%, with a transaction volume of USD 18.8 billion; Intel fell 5.54%, with a transaction volume of USD 13.4 billion; TSMC fell 6.20%, with a market value of USD 2.28 trillion"
datetime: "2026-06-23T19:28:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290601629.md)
  - [en](https://longbridge.com/en/news/290601629.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290601629.md)
---

# U.S. stock market midday update: POET Tech down 9.72%, frequent class action lawsuits raise legal risk concerns

**U.S. Stock Market Midday Update**

POET Tech fell 9.72%. Based on recent key news:

1.  On June 22, DJS Law Group accused POET of issuing false and misleading public statements throughout the period, leading to a decline in stock price. This law group focuses on securities class action lawsuits, aiming to enhance investor returns through balanced advice and proactive advocacy.
    
2.  On June 24, Rosen Law Firm issued a statement emphasizing that investors' ability to participate in potential future recoveries does not depend on serving as lead plaintiffs. This news may have heightened market concerns about POET's legal risks, further impacting the stock price.
    
3.  No other significant news recently. The technology sector is experiencing increased volatility, and risks should be monitored.
    

**Stocks with High Trading Volume in the Industry**

Micron Technology fell 13.25%. Based on recent key news:

1.  On June 23, Micron Technology dropped 11.33% during trading, with storage concept stocks collectively declining, as the market worried that the previous gains in storage stocks might have peaked. The Philadelphia Semiconductor Index saw a collective drop among its 30 constituent stocks, with technology stocks generally under pressure. Source: Zhitong Finance
    
2.  On June 23, Micron Technology fell over 8% in pre-market trading, as market sentiment turned cautious, shifting from enthusiasm for AI concept stocks to a demand for performance verification. Source: Wall Street Insight
    
3.  On June 22, Micron Technology's stock had shown strong performance recently, but market participants warned that the upcoming earnings report could pose a test for the stock's continued upward momentum. Source: Barron's Technology stocks generally under pressure, market sentiment cautious.
    

NVIDIA fell 3.55%. Based on recent key news:

1.  On June 23, the market expressed concerns over fluctuations in NVIDIA's GPU rental prices. The price of the B200 has fallen over 30% from its peak, indicating a potential short-term supply easing or slowing demand growth. This news raised uncertainties about NVIDIA's revenue expectations, leading to a decline in stock price. Source: Zhitong Finance
    
2.  On June 22, NVIDIA partnered with Dell to advance AI factory construction, promoting the development of supercomputing-level infrastructure. Although this move demonstrates long-term growth potential, it failed to boost the stock price in the short term. Source: Zhitong Finance
    
3.  On June 23, NVIDIA's shareholder meeting is approaching, with the market focusing on new product capacity ramp-up and capital return plans. Investors are taking a wait-and-see approach regarding future growth, putting pressure on the stock price. Source: Zhitong Finance Strong demand for AI chips, market volatility increasing.
    

Intel fell 5.54%. Based on recent key news:

1.  On June 22, Intel CEO Pat Gelsinger revealed the company's plan to fully embrace AI technology, strengthening its CPU and GPU architecture teams, with the goal of creating tenfold returns for shareholders. This news boosted market confidence, but geopolitical risks and interest rate impacts intertwined, leading to stock price volatility. Source: MarketWatch
    
2.  On June 23, Bank of America raised Intel's target price from $135 to $160, reflecting increased market confidence in its chip manufacturing business This move drove a short-term rise in stock prices, but overall tech stocks fell due to concerns about the sustainability of the AI investment boom. Source: Bank of America Global Research
    

On June 23, concerns about the bursting of the AI bubble reignited, leading to a collective decline in tech stocks. Intel's stock price fluctuated as a result, with investors reassessing whether AI capital expenditures could translate into actual profits. Source: MarketWatch Tech stocks fell due to concerns about the sustainability of the AI investment boom.

**Stocks ranked at the top of the industry by market capitalization**

TSMC fell 6.20%. Based on recent key news:

1.  On June 23, TSMC announced a price increase for advanced process chips, with the increase exceeding expectations, leading to heightened concerns about its profitability and a drop in stock prices. Sources indicate that TSMC's price increase strategy covers 75% of its wafer revenue and has already been implemented, with an expected annual revenue growth of 30%. Source: Tim Culpan
    
2.  On June 22, the Taiwan stock market surged by 1,276.31 points, led by TSMC, reaching a historic high, but subsequently fell back due to fluctuations in international stock markets and profit-taking pressure, causing TSMC's stock price to decline. The Taiwan stock index peaked at 47,741.51 points during the session, reflecting strong market confidence in tech stocks. Source: Zhitong Finance
    
3.  On June 22, TSMC's CoPoS technology layout progressed smoothly, with related equipment undergoing trial production at the Longtan plant. The market holds an optimistic view on its future technological development, but in the short term, stock prices are still affected by market fluctuations. Source: Zhitong Finance The semiconductor industry demand remains strong, with capital inflows

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