On June 26, United Microelectronics Corporation (UMC) fell 4.51% overnight, trading at $26.75/share, with turnover of $337,500. The decline came amid broad semiconductor sector weakness, with Micron Technology down 3.73%, Marvell Technology down 2.97%, and Intel down 2.05%, dragging overall sentiment lower.
UMC had previously surged on multiple catalysts, including reports of a partnership with Intel to co-develop 3nm and 12nm process technologies at Intel's Arizona facility, expectations of customer order transfers due to TSMC's rumored 25% production cut at the 28nm node, and strong Q1 earnings showing net profit surging 108% year-over-year to NT$16.17 billion. However, the company issued a statement on the Taiwan Stock Exchange stating it does not comment on speculative reports or market rumors, urging investors to rely solely on official disclosures. Market uncertainty regarding the confirmation of the Intel cooperation triggered concentrated profit-taking pressure following the stock's sharp recent gains.
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