I've had a computer blow out (sparks, smoke and everything) due to a power surge when the main power went out and then back on, rapidly.
So while the "direct" causes might be different between EMP and CME, the end results are basically the same. I could only imagine what our current (very power sensitive) electronics would do in that scenario.
From the wikipedia Carrington Event you posted:
> Because of the geomagnetically induced current from the electromagnetic field, telegraph systems all over Europe and North America failed, in some cases giving their operators electric shocks.[22] Telegraph pylons threw sparks.
> So while the "direct" causes might be different between EMP and CME, the end results are basically the same.
Not necessarily. My understanding is a CME solar EMP would take out grid-connected devices (via power surges over the grid), but leave most unconnected devices unharmed (e.g. laptops running on battery), but a nuclear EMP would take out both.
> Bit flips from cosmic rays.
I don't think that's it. IIRC, if a geomagnetic storm/coronal mass ejection is big enough, it can cause certain effects that are similar to an EMP. What the OP is talking about sounds like a distorted version of that danger: a nuclear EMP could directly fry microelectronics, a solar storm is a kind of EMP (solar EMP), but is missing most of the effects that could directly damage microelectronics, and many people conflate the two.
https://en.wikipedia.org/wiki/Carrington_Event
https://en.wikipedia.org/wiki/Electromagnetic_pulse#Types