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Micron Technology, the memory chipmaker that advanced more than 240% through the second quarter, fell 11% on Wednesday as chip stocks opened the third quarter with a sharp reversal.
The single session erased nearly $200 billion in Micron's market capitalization — a figure that reflects both the scale of last quarter's gains and how quickly momentum can give back ground when the calendar turns and sentiment shifts.
A 240% Second-Quarter Run Leaves No Margin for Disappointment Micron's second-quarter advance of more than 240% placed it among the most pronounced equity rallies of the period.
Moves of that magnitude leave a stock exposed: once a gain of that size is in the price, sustaining it requires continued positive catalysts.
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