NEW YORK — Shares of Apple and Micron Technology dropped sharply in midday trading on Wednesday, as investors continued to assess recent developments in the technology sector amid broader market volatility.
Apple Inc. shares fell more than 2% while Micron Technology Inc. declined around 3-5% at one point during the session, according to market reports. The moves came as part of a broader pullback in technology and semiconductor stocks, which have experienced significant swings in recent days.
The declines for Apple followed its Worldwide Developers Conference held earlier in the week, where the company unveiled updates to its Apple Intelligence platform and a revamped Siri voice assistant. Investors appeared to react to the lack of specific timelines for certain AI features, analysts noted. Apple shares had closed down nearly 2% on Monday following the event.
Micron, a major producer of memory chips used in data centers and AI applications, has seen heightened volatility. The stock experienced a sharp selloff earlier in June but rebounded strongly on Monday. Market participants cited ongoing concerns about valuations in the AI-related semiconductor space and broader economic signals.
Trading volume was elevated in both stocks as the Nasdaq Composite showed weakness in midday action. Chip stocks in general faced pressure, with the PHLX Semiconductor Index also trading lower.
Analysts have offered mixed views on the sector. Some pointed to strong underlying demand for AI infrastructure as a positive factor for companies like Micron, whose high-bandwidth memory products are sold out through 2026. Others highlighted elevated valuations after substantial gains earlier in the year.
"Investor sentiment remains sensitive to any signals regarding the pace of AI adoption and capital spending," said one market strategist in a note to clients.
The companies themselves did not issue immediate comments on the day's trading. Apple is scheduled to report quarterly results later in the summer, while Micron is set to release its fiscal third-quarter earnings on June 24.
Broader market context included reactions to recent economic data and geopolitical developments. The technology sector, which has driven much of the market's performance in 2026, has shown signs of rotation and profit-taking in recent sessions.
As of midday Wednesday, both stocks were off their recent highs but remained significantly higher year-to-date. Apple shares traded around the $300 level after earlier gains, while Micron, which crossed $1 trillion in market capitalization in May, continued to reflect its exposure to memory chip demand.
Market participants said they were watching upcoming inflation data and corporate earnings for further direction. No major company-specific announcements appeared to drive the midday moves for either stock. Details on exact percentage declines continued to fluctuate with trading activity.
