# Nasdaq slips as Micron earnings revive memory rally, Apple falls

**Published:** 2026-06-25T17:29:59.135Z  
**Topic:** Stock Market  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/6009f892-afe0-4942-b225-f053a110aa83

Nasdaq down 0.4% on June 24 as Micron’s earnings spark memory stock rally, Apple slides, and 10‑year Treasury yield falls to 4.41% after May inflation data.

The Nasdaq Composite fell 0.4% on June 24, snapping a brief rally in memory stocks after Micron’s strong earnings, while Apple shares tumbled and the 10‑year Treasury yield slipped to 4.41% following the May PCE inflation report [1].

| At a glance | |
|---|---|
| Nasdaq change | –0.4% |
| S&P 500 change | –0.1% |
| 10‑year Treasury yield | 4.41% (down from 4.50%) |
| Apple stock | down ~2% |

## Market reaction to earnings and inflation data  
Micron’s quarterly results posted after the bell on June 23 showed adjusted earnings of $25.11 per share on revenue of $41.46 billion, far exceeding analysts’ expectations of $21.05 EPS on $36.28 billion revenue [1]. The surprise lift sparked a 13% after‑hours jump in Micron shares and revived buying in other memory makers, with SanDisk and Western Digital each falling 2%–4% on the day as investors priced in the earnings beat. Despite the memory‑stock bounce, the broader tech‑heavy Nasdaq slipped 0.4%, marking a third consecutive daily decline.

At the same time, Apple’s stock slid about 2%, pulling down the “Magnificent Seven” cohort that otherwise held most of the index’s weight. The drop in the Nasdaq was compounded by a modest rise in the dollar index to 101.60 and a 5% fall in oil prices, which pushed WTI crude to $69.80 per barrel—the lowest level since the Iran war began [1].

## Inflation numbers and bond market response  
The 10‑year Treasury yield fell to 4.41% after the May Personal Consumption Expenditures (PCE) price index showed inflation rising 4.1% year‑over‑year, up from 3.8% in April, according to the latest government data [1]. The higher headline inflation was offset by a decline in the yield, reflecting market expectations that the Federal Reserve may keep rates steady despite the uptick. The 2‑year yield, a proxy for near‑term rate expectations, remained near its yearly high at 4.16% [1].

## What to watch  
- The upcoming PCE report for June, which will indicate whether the inflation trend is moderating or accelerating.  
- Guidance from major memory‑chip makers in their Q4 earnings releases, especially any revisions to revenue or margin forecasts.  
- Federal Reserve commentary on policy stance at the next FOMC meeting, slated for later this month.

The juxtaposition of Micron’s earnings surprise with a falling Treasury yield underscores a market caught between strong sector‑specific news and broader macro‑economic uncertainty, leaving investors to watch whether memory stocks can sustain momentum amid lingering inflation concerns.

## Sources
1. Investopedia — [Markets News, June 24, 2026: S&P 500, Nasdaq Fall for 3rd Straight Day; Oil Prices Drop to Lowest Level Since Start of War](https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-06242026-12005546)
2. Investopedia — [Live Markets News](https://www.investopedia.com/live-markets-news-11713202)

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Cite as: TrendWatcher, "Nasdaq slips as Micron earnings revive memory rally, Apple falls", https://www.trendwatcher.in/article/6009f892-afe0-4942-b225-f053a110aa83