Broadcom Crashes Over 12%, Wipes Out $286 Billion in Market Cap on June 4

On June 4, Broadcom stock plummeted over 12% following earnings results, wiping out approximately $286 billion in market value and marking the fourth-largest single-day market cap loss in U.S. corporate history. Micron Technologies fell 7.7%, erasing $94.2 billion in market cap, also a company record for single-day decline.

The broader chip sector retreated as market sentiment cooled. Arm dropped roughly 4%, AMD fell over 3%, while Qualcomm declined about 2% and Intel fell nearly 1%. The Philadelphia Semiconductor Index shed approximately 2.2%, signaling a broader profit-taking trend across the semiconductor group.