Marvell, Micron shares tumble as the chip sector suffers its worst day in 6 years
Semis
Marvell and Micron shares led a broad sell-off in the chip sector, marking its worst day in six years, as investors rotated out of momentum stocks. This shift is likely driven by a strong jobs report, which suggests the Fed may delay interest rate cuts, impacting growth-sensitive tech.
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Angle
↔ PAIR-6% target+3% stoptactical / 1-2 weeks
Short both MRVL and MU on a tactical relief rally, targeting a 5-7% move lower as the broader market re-prices semiconductor growth in a higher-for-longer rate environment.