Semiconductor stocks plummeted, with Micron and Broadcom leading the decline, tanking 20% in two days and wiping out $450 billion in value. The collapse is attributed to the semiconductor industry's overvaluation and the impending share sales by tech giants like Alphabet and Meta. These companies plan to raise billions by selling new shares at stratospheric valuations, reversing the liquidity flow that had fueled the market's growth.
Tap to vote and see what everyone thinks.
Nasdaq tumbles 4% as shares in chip and memory groups sink
Summary by ByteBrief