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Micron (MU, the largest American memory manufacturer) shares closed Monday at $833.59 - down $51.15 from the previous price of $884.74. Memory and chips lost more than $400 billion in market capitalization in a single session.
Intel shares (INTC, the American processor manufacturer) closed Monday at $59.97 - 8.8% below Friday's level of $65.76. This is the second wave of selling after Friday's 28.6% plunge, the worst day for the stock since 1974.
Third-quarter results are due after the US session close, with the management call at 01:00 MSK. The stock headed into the report already battered: on Monday it closed at $466.84, down 7.52% and near the day's low.
Nvidia (the world's largest manufacturer of artificial intelligence chips) has recommended that cloud business clients sell at least 51% of services to non-Chinese companies. Financial Times reported this on the morning of November 3.
Revenue for the September quarter was $114.5 billion (+12% year over year), earnings of $2.10 per share, both figures above consensus. After the close, the stock fell about 1%, to $335.
On Tuesday morning BTC lost about 2% and is trading just below $77,000, erasing Monday's rebound. The trigger was a sell-off in the US tech sector: the Nasdaq 100 index dropped 10% from its recent high, meaning it entered a correction.
Chipmaker Marvell Technology (ticker MRVL) has agreed to buy Lumentum (ticker LITE), a manufacturer of optical components for data centers. The deal is worth $115 billion and is settled in stock rather than cash.
Today, November 2, Apple publishes its quarterly report - and this is the company's first report under the leadership of new CEO Ternus. The backdrop is challenging: costs are being pressured by more expensive memory.
As of Friday, October 30, Apple's market capitalization stood at $5.03 trillion versus $4.93 trillion for Nvidia. The reason for the leadership change is not Apple's growth but a crash in semiconductors: Nasdaq Composite -3.37%, the chipmaker sector index Philadelphia Semiconductor -8.7%.
Intel said the global personal computer market will shrink by about 12% in 2026 and another 10% in 2027. On Friday, October 30, the entire semiconductor sector and computer makers were sold off.
On Friday, South Korea's main KOSPI index plummeted 5.25% to 5,626.02 points (05:20 MSK). SK hynix lost 8.65%, Samsung Electronics - 6.03%. The reason is investors' doubts about the returns on artificial intelligence investments, not poor earnings reports.
The South Korean KOSPI index gained 6.6% on Wednesday, October 28, following a report from memory chip maker SK Hynix: operating profit grew sevenfold, and the company announced it would return another $45 billion to shareholders.
Today the Fed announces its rate decision at 21:00 MSK, and after the US session closes Microsoft and Alphabet report - the first two of the companies whose AI infrastructure spending drives Nvidia's revenue. Heading into the event, the Nasdaq Composite stood at 26,477.81 points.
Meta (recognized as extremist and banned in Russia) announced the placement of new securities worth $35B. The money will go toward capital expenditures in artificial intelligence - this is one of the largest amounts raised of this kind among technology companies.
On Thursday, October 22, the Nasdaq Composite closed at 26,008.86 - down 694 points, or 2.6%. The main blow fell on chipmakers: the Philadelphia Semiconductor sector index plunged 6.72%.
Meta publishes its third-quarter report today, October 21. The market is looking not so much at profit as at capital expenditures (money for data centers, servers and AI chips): the company's annual guidance is $130-145 billion, and sentiment across the entire technology sector depends on it.
According to calculations by analytics firm K33, BTC's 28-day realized volatility (a measure of the actual magnitude of price fluctuations over a period) has dropped to 1.2% - nearly the lowest value for all of 2026. The market has frozen right before the Fed meeting and the US elections.
On Tuesday and Wednesday after the US market close, quarterly reports from Tesla, Meta, Netflix and SpaceX are released. Nasdaq values just the first three at a combined $3.6 trillion - the reaction in their shares drags the entire tech sector along with it.
The US stock market fell sharply after higher inflation in the US. The Nasdaq Composite lost 1.9%, the S&P 500 - 1.1%, and the sell-off in AI- and chip-related stocks then spread to Asia, where the KOSPI plunged 8%.
