Micron Stock Falls 13% After Memory Chip Rivals SK Hynix, Samsung Tumble in KOSPI Selloff

Micron Technology (MU) fell 13% Tuesday, its steepest single-day decline in over a year, as a tech selloff hammered memory chip peers trading on South Korea's KOSPI index. Samsung and SK Hynix both tumbled during the Tuesday session, dragging Micron down in sympathy despite trading on U.S. exchanges.

The drop reflects growing correlation risk in the memory chip sector, where production cycles and pricing trends link the fate of these three dominant players. When KOSPI-listed chipmakers crater, U.S. investors typically reprice Micron to match, particularly during broader risk-off moves in technology.

The 13% decline marks Micron's worst performance since mid-2024 and comes as momentum in high-flying chip stocks reverses sharply. The memory segment had been a standout performer on expectations of AI-driven demand for high-bandwidth memory products, making Tuesday's move a sharp reset for bulls who had pushed valuations higher.