Quick Read – After SK Hynix plunged 15% on an 8%-below-consensus profit estimate, Micron, SanDisk, and Western Digital each dropped 6% Monday despite year-to-date gains exceeding 200%. – The Roundhill Memory ETF (DRAM) fell 9%, with Samsung, SK Hynix, and Micron serving as its…
p three holdings and representing 73% of net assets, amplifying Korean losses. – Memory and storage stocks are selling off sharply Monday morning as a weak second-quarter profit estimate for South Korea’s SK Hynix rattled the AI memory trade. Micron Technology (NASDAQ:MU) stock, SanDisk (NASDAQ:SNDK) shares, and Western Digital (NASDAQ:WDC) stock were each down 6% a few minutes after the day’s session started
The moves come after historic runs. Micron stock was up 243% year to date (YTD) through Friday’s close, SanDisk shares had climbed 707%, and Western Digital stock was higher by 238%. Today’s 5% pullback trims only a small slice of those gains.
Renewed U.S.-Iran headlines and the ongoing debate about the payoff on AI capital spending sit in the background of these stock declines. However, specific events surrounding SK Hynix are hitting memory/storage stocks particularly hard. Weak SK Hynix Estimate Triggers a Memory Reset The trigger came from Seoul.