Today’s Market Movers: AMD, Nvidia, Micron Fall as Broadcom Selloff Spreads Across Chip Sector

TLDR

• Broadcom’s weak revenue guidance triggered a 13% stock drop, wiping out $286 billion in market value
• The S&P 500’s nine-week winning streak is at risk after chip stocks led a broad market pullback
• AMD, Micron, Nvidia, and Taiwan Semi all fell in premarket trading Friday
• Quantinuum’s Nasdaq debut fell flat, ending its first day up just 0.6% from its $60 IPO price
• Bitcoin’s continued selloff dragged down Coinbase, Robinhood, and Strategy

Broadcom sent shockwaves through the chip sector late Wednesday when it issued weaker-than-expected revenue guidance. The stock dropped 13% on Thursday, erasing $286 billion in market value in a single session.

Broadcom Inc., AVGO

The selloff spread quickly across the semiconductor space. Advanced Micro Devices fell 2.2%, Micron Technology dropped 2.5%, Nvidia dipped 1.1%, and Taiwan Semiconductor retreated 1.7% in Friday premarket trading.

The S&P 500 has barely moved since Monday’s open, rising less than 0.1% for the week. Futures were down 0.4% Friday morning, putting the index on track to snap a nine-week winning streak.

Chip stocks had been a key driver of the market’s run to record highs. But investors began pulling back after Broadcom’s guidance disappointed, and the selling broadened out from there.

AI-Linked Stocks Feel the Pressure

It wasn’t just chipmakers taking hits. Optical products maker Lumentum dropped 3.5% in premarket trading.

Server makers Dell Technologies and Super Micro Computer each fell around 2.7%. These companies have been closely tied to AI infrastructure spending, and they moved lower alongside the chip stocks.

Guidewire Software dropped 14% after its full-year guidance fell short of Wall Street expectations. Samsara fell 3% after the software company said its second-quarter guidance would only meet, not beat, forecasts.

Lululemon slid 12% to 13% after cutting its revenue outlook for both the second quarter and the full fiscal year. The company cited a dispute with its founder and products that have not connected with customers.

Tesla edged up 0.2% after JPMorgan upgraded the stock to neutral from underweight.

Quantinuum IPO Debut Falls Short

Quantum computing company Quantinuum made its Nasdaq debut on Thursday following a highly anticipated IPO priced at $60 per share. Shares briefly surged 13% above the IPO price but gave back nearly all of those gains by the close.

The stock ended its first day at $60.38, up just 0.6% from its offering price. Shares fell another 2% to 3% in Friday premarket trading.

Crypto Drags Down Related Stocks

Bitcoin and other cryptocurrencies extended a recent decline, pulling down stocks tied to the crypto market.

Coinbase Global and Robinhood Markets each fell around 0.7% in premarket trading. Strategy dropped 1.4%.

Friday’s broad pullback reflects investor caution after weeks of gains led by AI and chip-related names. Broadcom’s guidance was the trigger, and the selling spread across sectors from semiconductors to software to crypto-linked stocks.

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