---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42230057.md"
description: "$Intel(INTC.US)⚕ $Arm(ARM.US)$Micron Tech(MU.US)────────────【The Cause-and-Effect Chain of the 6/26 Crash】1️⃣ The trigger for the U.S. stock market's night session chip stock crash (early this morning Beijing time)   - Last night, Apple officially raised prices for iPads and MacBooks, up to $500. Cook said in an exclusive interview with WSJ that the price hike was “unavoidable,” with the *direct reason being the skyrocketing cost of memory chips (DRAM/NAND) driven by AI*.   - The market immediately repriced: the memory price increase is not a positive for SK Hynix/Micron (it is in the short term), but rather the logic of *” downstream demand being crushed by prices”* — Apple's price hike will suppress sales, AI capital expenditure is peaking, transmitting to the entire chip industry chain.   - The semiconductor sector collectively fell in after-hours/night trading, with Nasdaq 100 futures also plunging.2️⃣ South Korea's KOSPI market circuit breaker triggered today (morning session -8%, the 5th circuit breaker this year)   - Direct victims: Samsung Electronics -9%, SK Hynix -12%.   - KOSPI is highly concentrated in the chip duopoly, with Samsung + SK Hynix accounting for ~30% of the index weight. Their crash = index circuit breaker.   - Media headline keywords: *” SoftBank rout drags Asia down”*, *” new tech rout”*. SoftBank's holdings in Arm/AI concepts also plummeted, infecting the entire Asia-Pacific tech stock market.3️⃣ The underlying macro narrative (this is the real driver)   - For the first time, a downstream player of Apple's caliber publicly acknowledged the chain: *AI capital expenditure → memory squeeze → terminal price hikes → demand destruction*.   - The market is beginning to worry: has the 2024-2025 AI infrastructure narrative already entered the stage of ” profit squeezing downstream”? TSMC's earlier capex warning + Apple's current price hike = signals in the same direction.   - Combined with the U.S. stock market's own high valuation (the semiconductor sector's PE is already at the historical 90%+ percentile), it crashes at the slightest disturbance.—【Impact on You】   - If your U.S. stock holdings include names like NVDA/AMD/MU/AVGO, sentiment is bearish before tonight's U.S. market open. I will verify again pre-market and issue defensive alerts.   - Hong Kong stocks like Alibaba and Tencent have already fallen today (Asia tech stocks broadly declined). Be cautious about sentiment before tonight's Hong Kong market open.- *Risk level raised to ” High”*: The first crack has appeared in the macro-level AI narrative. It is recommended to reduce tech stock positions (unless your stop-loss is already set)."
datetime: "2026-06-26T06:51:19.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42230057.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42230057.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42230057.md)
author: "[葛优躺](https://longbridge.com/en/profiles/11169556.md)"
---

# $Intel(INTC.US)⚕ $Arm(ARM.US)$Micron Tech(MU.US)──…


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## Comments (2)

- **新用户_Xyj64n · 2026-06-26T06:57:20.000Z**: Didn't U.S. stocks already fall yesterday? It was because APPLE raised its prices.
  - **Investor** (2026-06-26T07:07:34.000Z): Black Friday continues to fall tonight.