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Jun 9, 2026 12:00 PM

Micron, Marvell and Arm Stock Charts Flash The Same Warning — One Still Looks Cheap

The chip rally that carried U.S. markets to record highs this year has left three of its biggest winners hanging further above trend than anything else in the sector.

Only one of them still looks cheap.

Micron Technology, Inc. (NASDAQ:MU), Marvell Technology, Inc. (NASDAQ:MRVL) and Arm Holdings plc (NASDAQ:ARM) are now the most stretched stocks relative to their 200-day moving averages across the entire chip complex tracked by the iShares Semiconductor ETF (NASDAQ:SOXX). Intel Corporation (NASDAQ:INTC) sits just behind them.

Marvell trades roughly 250% above its 200-day line. Micron runs about 160% above. Arm sits near 130% and Intel around 113%.

SOXX itself trades about 65% above its own 200-day average, down from a peak near 85% in early June.

Why The ...