--- title: "[Task Coins Giveaway] Daily Market Talk β€” Chip Rout Before Micron's Make-or-Break Night" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/100000000757749.md" description: "After today's memory crash and with Micron set to report tonight, is this a dip worth buying or the first real crack in the debt-funded AI capex story?" datetime: "2026-06-24T03:48:15.000Z" locales: - [en](https://longbridge.com/en/topics/100000000757749.md) - [zh-CN](https://longbridge.com/zh-CN/topics/100000000757749.md) - [zh-HK](https://longbridge.com/zh-HK/topics/100000000757749.md) author: "[Captain's Watch](https://longbridge.com/en/profiles/24747427.md)" generator: "portal-rs" --- # [Task Coins Giveaway] Daily Market Talk β€” Chip Rout Before Micron's Make-or-Break Night Memory stocks led a global tech selloff overnight. The Nasdaq closed -2.21% at 25,587 (down 579.56 pts) and the S&P 500 fell -1.44%, with Micron crashing ~13% and SanDisk -13.6% right before Micron reports earnings tonight. The trigger came out of Korea: SK Hynix is slowing its HBM4 ramp and Nvidia's next-gen Rubin output forecasts are being cut, reviving fears that the AI memory supercycle is cooling. Meanwhile Alphabet is joining the Dow, the US Senate voted to wind down the Iran conflict, and Singapore's STI barely flinched. Let's dig in πŸ‘‡ πŸ’¬ After today's memory crash and with Micron set to report tonight, is this a dip worth buying or the first real crack in the debt-funded AI capex story? ## πŸ“Š Quick Recap β€” What Moved & Why ### πŸ‡ΊπŸ‡Έ US β€” A Memory Crash Dragged the Whole Tape Lower πŸ”‘ Key Event: Korea-led memory selloff. A report that SK Hynix is pushing its HBM4 capacity expansion from Q2 to Q3 2026, paired with trimmed production forecasts for Nvidia's Rubin chips, hammered memory names worldwide. Micron (MU) fell ~13.18% and SanDisk (SNDK) -13.64%, two of the year's best S&P performers giving it all back in a single session. The semiconductor index dropped close to 8%, dragging the Nasdaq -2.21% and S&P -1.44%. The selloff also fed a broader worry the market has been circling for weeks: how much debt-funded AI capex is too much, especially heading into a more hawkish Fed. All eyes now on Micron's FQ3 print tonight after the US close. #### πŸ‘€ Other to Watch - Cerebras (CBRS) -10% after hours β†’ Q1 revenue $193.4M, +94% YoY, a clear beat, but soft gross-margin guidance overshadowed it - Alphabet (GOOGL) β†’ will replace Verizon in the Dow Jones, effective before Monday's open on June 29; rose ~1.2% after hours, adding yet another mega-cap tech name to the blue chips - Quantum names firmer, IBM +5%+ β†’ money rotated into quantum even as AI memory wobbled - Meta (META) prediction-market app "Arena" β†’ points-based, no real-money wagering at launch; the threat knocked DraftKings (DKNG) and Robinhood (HOOD) lower ### πŸ‡ΈπŸ‡¬ Singapore β€” STI Shrugs Off the Global Rout πŸ”‘ Key Event: STI resilient at 5,217 (+0.22%). While Wall Street and Hong Kong sold off hard, Singapore's banks-heavy index barely moved and actually closed slightly higher. The local market has very little direct exposure to the AI memory trade that drove the US and Korean rout, so the STI is acting as a relative safe harbor. Strength in the big banks on wealth-management inflows has kept the index anchored well above 5,000. #### πŸ‘€ Other to Watch - DBS (D05) / OCBC (O39) β†’ local banks have been trading near record highs on wealth-management momentum, the main anchor under the STI - Read-through β†’ with no memory-chip heavyweights in the index, SG offers a way to stay invested while semis bleed; the flip side is it also misses the AI upside when the supercycle is running ### πŸ‡­πŸ‡° HK/China β€” Caught in the Memory Downdraft πŸ”‘ Key Event: Hang Seng -1.82%, HSCEI -1.96%. HK and China shares fell with the global tech rout, led lower by the same Korea-driven memory weakness rather than any China-specific catalyst. The read-through stays the same as recent sessions: HK remains hostage to global tech sentiment and US rate fears in the near term. #### πŸ‘€ Other to Watch - SK Hynix β†’ reportedly preparing a depositary-receipt-linked new share issue even as its planned Nasdaq listing now collides with fresh doubts over the HBM4 ramp ### 🌐 Other - Gold -1.89% to ~$4,111 β†’ safe-haven demand eased as Washington moved to de-escalate with Iran - US-Iran β†’ the Senate passed a war powers resolution 50-48 (the first time both chambers have done so), directing an end to hostilities; a signed MOU has started a 60-day clock toward a broader nuclear deal, though a presidential veto still looms ## πŸ“… Key Events Tonight / This Week - Micron FQ3 earnings tonight (after US close) - GOOGL joins the Dow Mon June 29 - Iran 60-day MOU clock running - Fed speakers ongoing πŸ‘‡ Drop your take (20+ words) & click "Repost" to earn 288 Task Coins ✨ 🚫 No duplicates ⏰ Deadline: June 24, 11:59 PM SGT Not investment advice, just market talk πŸ™ ### Related Stocks - [07709.HK](https://longbridge.com/en/quote/07709.HK.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md) - [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) ## Comments (16) - **Dacai Β· 2026-06-24T13:56:34.000Z**: The worry about capex spending has come up before. I don’t think it is the end of the road yet for semiconductors and memory chips. - **Fantastic** (2026-06-25T02:51:59.000Z): Agree, the capex fear resurfaces every cycle and structural demand keeps winning out. AI just adds another leg to it. - **Tiffany lover Β· 2026-06-24T08:42:57.000Z**: The Straits Times Index performed strongly, closing at 5,217 points (+0.22%). Despite significant selling on Wall Street and in the Hong Kong market, the Singaporean index dominated by bank stocks barely moved and actually closed slightly higher. The local market has almost no direct exposure to the - **Jake_L_Kelly Β· 2026-06-24T08:20:43.000Z**: Memory chips and Ai tech sectors, all took the hit and share prices retreated Besides the rising cost factor, another one is rare earth, which China controlled almost 90%, now being regulated and in short supply. This ripple throughput the supply chain and cooled down the overheating tech sectors - **dingdongbell Β· 2026-06-24T06:25:04.000Z**: Up and down the market goes again. The slightest of narratives are able to induce a sell off. Tells you how on the edge investors are. - **LazyCat Β· 2026-06-24T06:04:44.000Z**: with the addition of Alphabet (GOOGL) to the Dow Jones, the traditional industrial index is becoming more correlated to QQQ and S&P 500. There is no where safe to hide from the volatility in the tech and AI names. - **win win Β· 2026-06-24T06:00:25.000Z**: Micron, the memory chip sector big company going to announce FQ3 result. let's see tonight how is the performance first then decide later - **PumpLord_69 Β· 2026-06-24T05:57:16.000Z**: semis down almost 8% in one session tells you how crowded this got. everyone was levered long the same five names. when it unwinds it unwinds fast 🫠 - **Fair_Lemon5303 Β· 2026-06-24T05:54:13.000Z**: been waiting weeks for memory to pull back and here it is. started nibbling Micron and SanDisk into the close. if the FQ3 number tonight confirms data center demand is still there, this 13% dip is gonna age really badly πŸ‘€ - **TheRaccoonAnalysis Β· 2026-06-24T05:35:18.000Z**: The selloff reflects growing investor concern that AI-driven memory demand may be moderating sooner than expected. Reports of slower HBM4 production from SK Hynix and reduced forecasts for Nvidia’s Rubin platform raised doubts about the sustainability of the AI hardware boom, hitting memory stocks p - **pohyc Β· 2026-06-24T05:32:50.000Z Β· πŸ‘ 1**: US Fed possible rate hike this year lending strength to USD. Gold as the alternate currency goes down. Let's see if global central banks are going to resume buying gold instead of US tbills. - **Victor y Β· 2026-06-24T05:16:11.000Z Β· πŸ‘ 1**: Micron’s upcoming earnings will be an important test if demand and guidance hold up, this could simply be a healthy correction. But if the outlook disappoints, it may put further pressure on the broader semiconductor sector. The key thing to watch is whether AI related spending can keep up its curre - **Heroic Lifesaver Β· 2026-06-24T05:10:38.000Z Β· πŸ‘ 1**: The market is too jittery at these levels and will respond to the slightest of hints or narratives. A breather will be good to allow digestion as well as quell fomo and stabilise things. - **lungrisser Β· 2026-06-24T04:50:49.000Z Β· πŸ‘ 2**: Micron gonna soar tonite.Chip production still not meeting demand so likely just market jitters.worth at least putting in abit to catch the bounce. - **Mango Β· 2026-06-24T04:43:27.000Z Β· πŸ‘ 1**: Micron's FQ3 print tonight!!! - **NewUser_CkrdqW Β· 2026-06-24T04:17:19.000Z Β· πŸ‘ 2**: Sk Hynix slowing its HBM4 & Nvidia cutting forecast for Rubin output has spurred the uncertainty over AI memory supercycle. The global crash last night was due to many Koreans playing with margin calls, forcing them to liquidate their US assets for stop losses. Besides, I don't think the memory --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**