Newsbite analysis · Business, Startups
CNBC
Micron Technology, SpaceX, IBM, Flex & more
Tech stocks experienced a significant selloff, led by Micron Technology, which dropped over 10%, worsening its position as investors reacted negatively. Conversely, IBM's shares rose more than 4% following an upgrade by JPMorgan, indicating underlying strength in the company’s software business. Accenture also reported positive movement after increasing its share repurchase program to over $7 billion, defying broader market trends.
MonitorConfidence: HighShort term horizon
Published 23 Jun 2026, 16:55 UTC4 min read
Lead image — CNBC
Brief
NewsBite reading:Micron Leads Selloff as IBM and Accenture Find Gains Amid Tech Market Shifts
TL;DR
- Micron dropped over 10%, marking its most challenging day since early June.
- IBM rose more than 4% post-clear upgrade indicating strong software performance.
- Accenture bucked bearish trends by expanding its share repurchase program.
- SpaceX shares climbed nearly 6%, reversing prior session losses.
- AMC Entertainment faced a substantial 25% drop due to new share agreements.
Interesting facts
- IBM's upgrade was driven by improved margins and profitability forecasts.
- Accenture's increase in share buybacks reflects confidence in its financial strength.
- SpaceX's stock volatility indicates market reaction sensitivity to recent trading.
- The significant drop in AMC shares highlights investor concerns about dilution.