Tech Stocks Nurse a Post-Earnings Hangover

Tech stocks slid after recent earnings, weighing on the semiconductor group and broader tech benchmarks. Micron, Intel and Qualcomm fell sharply — about 3.6%, 6.8% and 11% respectively — trimming gains after a strong rally that left those names up more than 60% over the prior month. The PHLX Semiconductor index tumbled as much as 6.7% before rebounding to finish roughly 3% lower, signaling profit-taking and a post‑earnings “breather” in AI‑related and chip names. While markets recovered some ground in afternoon trading, the pullback highlights near‑term volatility for the US Tech 100 and other tech‑heavy indices following outsized recent gains.