Stocks to Watch: Intel, Micron, SpaceX, Oracle

Tech selloff hits premarket

Micron and Intel were among the most notable premarket losers on June 23 as a broad tech selloff continued to pressure semiconductor shares and other high-multiple names.

AP reported early in the day that U.S. stock futures were lower again, with tech leading the decline. MarketWatch also flagged a sharp drop in the Nasdaq-linked group and said the selloff was intensifying ahead of the open.

Later live coverage from The Wall Street Journal said Micron was down about 7% premarket and Intel more than 6%, underscoring how hard chipmakers were being hit in the risk-off move.

The weakness was not confined to U.S. trading. WSJ and AP both pointed to a wider global tech slump, including pressure on Asian chipmakers, as investors moved away from the sector.

SpaceX faces a debt-market test

SpaceX was lower again after a 16% drop in the prior session. The move came as the company prepared what multiple reports described as a planned bond sale that could total more than $20 billion.

Axios reported that SpaceX is seeking about $20 billion in bonds to refinance a bridge loan tied to its IPO financing. WSJ said the deal could price as early as June 23, making the transaction a near-term test of investor appetite.

The reaction suggests investors are paying close attention to leverage and execution as SpaceX approaches its first major bond-market financing after its recent IPO. That makes the offering more than a routine funding step: it is also a signal on how the market views the company’s capital structure after a sharp post-IPO decline.

Oracle’s filing draws attention

Oracle also traded lower after filing-based reporting showed the company had cut 21,000 jobs, or about 13% of its workforce, over the past fiscal year as it continued shifting spending toward AI and data-center infrastructure.

WSJ said the stock dipped after the disclosure, while Investor's Business Daily cited Oracle's fiscal 2026 10-K showing headcount fell from 162,000 to 141,000 and restructuring costs rose to $1.84 billion.

The numbers add detail to Oracle’s AI pivot. The company is spending more on infrastructure and reorganization, but the filing also shows the scale of the cost burden tied to that shift.

What traders are watching next

The immediate questions are whether Micron and Intel weakness carries into the cash session, whether SpaceX prices its bond deal and on what terms, and whether Oracle or SpaceX provide any additional commentary or filing detail.

For now, the setup remains a broad tech risk-off move with several company-specific catalysts reinforcing the same direction.