SanDisk Plunges Over 8% as Oil Spike from Middle East Conflict Stokes Inflation Worries
SanDisk shares fell 8.35% on Tuesday as memory stocks plunged under pressure from escalating Middle East tensions that drove oil prices up and stoked inflation concerns. Year-to-date gains of 161% unwound alongside Micron’s 7.7% decline in a sector-wide pullback triggered by rising rate expectations and geopolitical uncertainty.
1. Sharp Decline in SanDisk Shares
On Tuesday, SanDisk shares fell 8.35% to $567.36 as investors sold memory makers during a broader tech rout triggered by Middle East tensions.
2. Geopolitical Tensions Driving Energy Prices
Escalating strikes between Israel and Iran pushed oil prices sharply higher, driving US inflation expectations upward and prompting a risk-off shift in growth-oriented technology stocks.
3. Sector-Wide Pullback Unwinds YTD Gains
SanDisk had gained 161% year-to-date before the selloff, mirroring Micron’s 45% rise, but both stocks slid over 7% as investors reassessed rate and demand forecasts in the semiconductor sector.