Micron Warning Adds to Evidence of Chip Demand Collapse

Micron announced it won't meet revenue projections, causing a market stir, especially in the semiconductor sector. This follows similar warnings from NVIDIA and weak reports from Intel, highlighting a downturn driven by reduced consumer demand post-pandemic and inflation. The NASDAQ and semiconductor index have been negatively impacted, with significant declines in stock values. Companies are adjusting short-term strategies to protect profits while maintaining long-term growth plans.

What impact has the decline in chip stocks had on the NASDAQ index?

Which companies are mentioned as having slashed their outlooks?