Micron Technology's stock price rose more than 6%, bringing its total market capitalization to $1.36 trillion.
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Micron Technology's stock price fell below $900, a drop of 9.09%.
According to data from Odaily Odaily, Micron Technology's stock price has fallen below $900, currently trading at $895.25, a drop of 9.09%.
At the opening of the US stock market, the Dow Jones Industrial Average rose 0.09%, while the Nasdaq Composite Index fell 0.6%.
According to Mars Finance, Gate.com data shows that at the opening of the US stock market, the Dow Jones Industrial Average rose 0.09%, the S&P 500 fell 0.22%, and the Nasdaq Composite fell 0.6%. Chip stocks continued their pullback, with SanDisk down 6.5%, Western Digital down 6.7%, and Micron Technology down 6.07%. SpaceX was officially included in the Nasdaq 100 index today, and its stock price fell 1.7%.
In pre-market trading on the US stock market, semiconductor, memory, and optical communication sectors continued their decline, with Micron and SanDisk both falling by more than 5%.
According to Mars Finance, on July 8th, based on BIT (bit.com) market data, semiconductor stocks generally fell in pre-market trading in the US. Marvell Technology (MRVL) fell 4.46%, Arm (ARM) fell 3.51%, Intel (INTC) fell 3.47%, Lam Research (LRCX) fell 3.11%, and Applied Materials (AMAT) fell 2.85%. The memory sector saw the largest declines, with SanDisk (SNDK) falling 5.59%, Micron Technology (MU) falling 5.28%, Western Digital (WDC) falling 4.53%, and Seagate Technology (STX) falling 4.19%. Optical communication concept stocks also came under pressure, with Astera Labs (ALAB) down 4.57%, Applied Optoelectronics (AAOI) down 4.47%, Credo (CRDO) down 4.42%, Corning (GLW) down 4.22%, Ciena (CIEN) down 3.69%, and Coherent (COHR) down 3.44%.
US pre-market news at a glance: Samsung's earnings report triggered a collective weakness in semiconductor stocks in pre-market trading; SpaceX officially debuts on the Nasdaq 100 today.
According to BlockBeats, the following are key market news items before the US stock market opened on July 7th: 1. Samsung released its Q2 earnings forecast, showing an operating profit increase of over 1800% year-on-year, with single-quarter profits exceeding the total of the previous three years. Simultaneously, the company's revenue also increased by 129% year-on-year, reaching 171 trillion won. Affected by the semiconductor sell-off triggered by the "sell-off" of Samsung's earnings, chip-related technology stocks generally weakened in pre-market trading. The three major US stock futures indices showed mixed results in pre-market trading: Dow Jones futures rose 0.41%, Nasdaq 100 futures fell 0.9%, and S&P 500 futures fell 0.09%. 2. SpaceX officially debuted on the Nasdaq 100 before the US stock market opened today, with Wall Street institutions collectively bullish. Most institutions believe that SpaceX is no longer just a traditional aerospace company, but a platform company with the potential for rocket launches, Starlink satellite internet, AI infrastructure, and future space computing. 3. DeepSeek is secretly developing its own inference chip. If successful, this would reduce reliance on external suppliers and give it more cost-effective hardware control. However, the project is still in its early stages and faces manufacturing and memory acquisition restrictions due to US export controls. 4. UBS recommends investors buy SK Hynix's upcoming American Depositary Receipts (ADRs) and sell its South Korean shares, as these new shares are expected to trade at higher prices. 5. JPMorgan strategists say the recent weakness in semiconductor stocks should be seen as a buying opportunity, as the chip upcycle is not yet over, and truly meaningful new supply may not appear until 2028. 6. US ADP employment change for the week ending June 20 was 21,000, compared to 30,750 in the previous week. 7. BlackRock will launch an ETF tracking the tech-heavy Nasdaq 100 index, aiming to meet investors' growing demand for participation in the AI-driven stock market rally and challenge Invesco's dominant position. 8. Amazon is returning to the US bond market to raise funds for its artificial intelligence infrastructure. The company will issue eight benchmark bonds with maturities ranging from 3 to 40 years, raising at least $25 billion in the dollar bond offering. 9. Global brokerages have begun coverage research on Elon Musk's SpaceX (SPCX.O), and a preliminary consensus has formed on Wall Street: buy the stock. At least six brokerages, including Morgan Stanley, Goldman Sachs, and UBS, have given it a buy rating, optimistic about its long-term growth prospects, although doubts remain about profitability and valuation.
Canaan Technology's ADS will be listed on the Nasdaq Capital Market and an extension of the minimum share price compliance period has been applied for.
Odaily Odaily reports that Bitcoin mining company Canaan Technology has announced that its American Depositary Shares (ADSs) have been officially transferred from the Nasdaq Global Market to the Nasdaq Capital Market, with the stock code CAN remaining unchanged. The transfer will not affect its normal trading. Canaan Technology also revealed that it received a minimum share price compliance notice from Nasdaq on January 14, 2026, due to its ADS closing price remaining below $1 for 30 consecutive trading days. The original compliance period ended on July 13. After transferring its listing, it applied for an additional 180-day grace period on July 6. If approved, it will have more time to restore compliance, at which point it will need to maintain its ADS closing price above $1 for at least 10 consecutive trading days within the applicable period. (PRNewswire)
South Korean stocks plunge 20%, nearing a bear market; the AI boom faces the awkward situation of "the more disastrous the earnings, the steeper the decline."
According to BlockBeats, on Wednesday afternoon, July 8th, South Korean stocks extended their losses as investors reassessed the outlook for AI demand. The KOSPI index fell by more than 6% at one point, breaking below 7200 points, and has cumulatively fallen by more than 20% from its all-time high last month, poised to enter technical bear market territory. Memory chip maker SK Hynix fell by as much as 5%, and Samsung Electronics fell by 6.9%. The Korea Exchange initiated a temporary trading halt on the KOSPI index, suspending algorithmic trading. South Korean stocks were among the strongest performing markets globally this year, but their performance is highly dependent on SK Hynix and Samsung Electronics, amplifying volatility when sector sentiment weakens. Even with Samsung Electronics announcing a 19-fold surge in quarterly profits earlier this week, chip stocks continued to be under pressure. Jordan Klein, a TMT sector expert at Mizuho Securities, stated that investors overreacted to Samsung's preliminary second-quarter results. He believes this sell-off in semiconductor stocks is more a sign of waning momentum than a deterioration in fundamentals. Klein stated that excluding one-off bonus expenses, Samsung's operating profit actually significantly exceeded expectations, with its storage business implied operating margin potentially exceeding 80%. He indicated that Samsung's single-quarter operating profit has already surpassed the total of the past three years, and reacting to Samsung's stock price based solely on preliminary results is "extremely short-sighted." Meanwhile, an AI trading rotation occurred in Asian markets. Hong Kong-listed Chinese stocks rose, with the Hang Seng China Enterprises Index rising as much as 3.4%, the Hang Seng Tech Index rising over 5% intraday, Alibaba rising over 8%, and Tencent rising over 3%. Market analysts believe that funds are flowing from crowded trades focused on AI infrastructure to markets with lower valuations and more value-oriented characteristics. Reuters' report on DeepSeek's self-developed chip and The Information's report on Zhipu AI considering designing its own AI chip further fueled this rotation. (Jinshi)