Micron Technology tumbled 13% after its latest trading session, yet the Boise‑based semiconductor giant remains up roughly 160% over the past three months. The company is set to release its quarterly earnings after the bell, and it is the sole S&P 500 firm headquartered in Idaho — a state that ranks 14th in size by land area nationwide. CNBC’s Kristina Partsinevelos will provide the numbers and immediate market reaction.
Elsewhere in the chip sector, the VanEck Semiconductor ETF (SMH) slipped 7%, while ON Semiconductor fell 11% and Arm Holdings dropped 10%. Qualcomm slipped 8% on Tuesday ahead of its investor day, leaving the stock down 21% from its May 29 peak but still up 59% over the last three months.
Banking shares showed mixed strength. Citigroup gained about 15% in June and sits just shy of its weekly high; Bank of America added 12% for the month, hitting a new peak on Tuesday. JPMorgan Chase is up more than 11% month‑to‑date, while Morgan Stanley rose 8.6% in June though it is 1.9% off the week’s high. Wells Fargo increased 8.5% in June, remaining 14% below its January peak, and Goldman Sachs advanced 6.7% in June, lagging 2.7% behind its recent weekly high.
In index news, Alphabet is slated to join the Dow Jones Industrial Average on Monday, replacing Verizon. S&P Global noted that the addition will broaden and strengthen the DJIA’s exposure to dynamic sectors of the U.S. economy. Alphabet’s shares are down 15% from their May high but have risen almost 110% over the past year. Verizon, meanwhile, is off 9.5% from its March high yet still up roughly 10% year‑over‑year. The Dow as a whole is up 21% over the last twelve months, though it is 1.2% below its weekly high.
The broader S&P Technology sector declined about 3.7% on Tuesday, marking a drop of 8.75% from its June 2 peak. Early‑morning coverage will continue with the “Morning Call” segment at 5 a.m. ET.
