Technology stocks attempted to recover on Wednesday after a sharp global sell-off that hit chipmakers and AI-related companies earlier in the week. Shares of memory manufacturers Micron and Sandisk moved higher after suffering double-digit declines on Tuesday, while the Roundhill Memory ETF also posted gains.
According to Wedbush analyst Dan Ives, recent checks across Asian markets and enterprise AI demand trends showed no meaningful signs of weakness. He argued the downturn reflected profit-taking rather than deteriorating fundamentals.
Asian technology shares recovered unevenly, with Samsung Electronics surging 10% after a steep drop a day earlier. European chip stocks were largely stable, while Chinese technology stocks delivered mixed performances as investors assessed the outlook for AI-driven growth.
Related Tweet:
A sharp selloff hit AI and chip stocks — after a year of stratospheric gains. Is this just a pause, or something bigger? Find out on the Reuters Morning Bid podcast https://t.co/nLxUvQATVN pic.twitter.com/LaDPStWRpE
— Reuters (@Reuters) June 24, 2026
Also Read:
TIPP Staff
