Philadelphia Semiconductor Index falls 3.01% intraday; Micron drops 4.91%

The breadth of the selloff matters more than the headline drop: declines spanning memory, foundry, equipment and GPU names point to a sector-wide de-risking rather than a single-stock story, with Micron and Intel leading the downside. The split tape is the interesting part — Qualcomm and AMD holding gains while peers fall suggests stock-specific factors are overriding the common semiconductor cycle narrative. Whether that divergence persists or the laggards drag the outperformers down is the open question worth watching.