Micron, Western Digital, and Sandisk shares fall sharply amid valuation concerns despite strong recent earnings and revenue growth.
Memory and storage stocks have retreated sharply in the past month, with Micron Technology, Western Digital, and Sandisk each declining more than 20%. Micron, once valued near $1.4 trillion, has fallen roughly 24% in the period, erasing part of its five-year gain of over 1,000%.
Micron reported $90 billion in revenue and $50 billion in profit over the last four quarters, underscoring strong fundamentals. The sell-off follows a period of elevated valuations, raising questions about whether the drop signals a broader industry correction or a temporary pullback.
The decline contrasts with the sector’s recent outperformance, as investors weigh profit-taking against long-term growth prospects in memory and storage markets.