24/7 Wall Street
08 Jun 2026, 10:30 UTC · 2h ago
The 2x Micron ETF (MUU) Shed 26.65% in One Day When Broadcom Missed and Rates Spiked
24/7 Wall Street
08 Jun 2026, 10:30 UTC · 2h ago
Story key points
4 claims · impact-rated
Broadcom's Q3 AI semiconductor revenue guidance missed buyside expectations by approximately 7%. — A miss in AI revenue guidance from a key industry leader signals a potential cooling of the AI infrastructure spend.
-0.60May nonfarm payrolls exceeded expectations (172K vs 80K), renewing Fed rate-hike chatter and pushing the 2-year Treasury yield to a 16-month high. — Stronger labor data increases the likelihood of higher-for-longer interest rates, which disproportionately hurts rate-sensitive growth and tech stocks.
-0.50Micron Technology (MU) saw a 13% single-day drop as investors reacted to the cyclical nature of memory pricing and increased HBM capacity from competitors Samsung and SK Hynix. — Increased supply from competitors threatens the margins and pricing power of the memory segment of the AI trade.
-0.40Continue reading
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Broadcom CEO Hock Tan indicated Google may use multiple chip suppliers, challenging the hyperscaler concentration thesis. — Diversification of suppliers by major cloud providers reduces the moat and revenue predictability for dominant chip designers.
-0.30Ticker attribution
Model heads
Stock dropped 13% in a single session due to concerns over memory cycle breaks and HBM pricing.
Stock fell roughly 20% after AI revenue guidance missed buyside expectations.
Stock fell 6.2% on Friday, though the drop was significantly smaller than its peers.
[mutual] Both companies are described as part of the AI semiconductor complex.
[mutual] Both companies are described as part of the AI semiconductor complex and AI-adjacent names.
[mutual] Both companies are described as part of the AI semiconductor complex.
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