SanDisk shares plunged 9.3% in Tuesday’s pre-market session after closing at record highs on Monday, joining Micron’s 8.4% drop and a 13% decline in the Roundhill Memory ETF. The selloff followed a broader global tech downturn that sent South Korea’s Kospi down 10% and triggered market-wide circuit breakers.
SanDisk shares tumbled 9.3% in early U.S. trading alongside Micron’s 8.4% decline, Seagate and Western Digital each down over 7%, and the Roundhill Memory ETF falling 13% after these names reached record highs just one session earlier.
The selloff carried over into Asia, pushing South Korea’s Kospi index down 10% and forcing a 20-minute trading suspension; SK Hynix and Samsung Electronics both slid more than 12% amid the global tech downturn.
Investor sentiment on memory-chip stocks shifted notably, with DRAM ETF sentiment moving from neutral to bullish while SanDisk’s sentiment turned bearish; traders cited profit-taking by institutions and insiders after the prolonged rally.
Memory-chip stocks have surged over the past year on AI-driven data center demand, but investors and analysts are now questioning how much growth remains to be captured versus what’s already priced into current valuations.
