Shares of major memory chipmakers drop after reports Apple may source chips from Chinese suppliers ahead of Xi’s U.S. visit.
Memory stocks fell sharply Monday after reports suggested Apple could begin sourcing chips from Chinese suppliers. SanDisk led losses, plunging 9% to $1,458.29, while Micron and Western Digital each dropped 7% to $897.86 and $429.49, respectively.
The selloff followed speculation that U.S. policy may ease restrictions on Apple’s supply chain ahead of Chinese President Xi Jinping’s visit. Analysts noted Chinese suppliers like CXMT lack iPhone qualification, while YMTC has prioritized domestic demand. The Roundhill Memory ETF fell 7% to $53.62, reflecting broad sector pressure.
Traders appeared to react uniformly to the policy headline, with little distinction between NAND and DRAM exposure. SK Hynix also declined 5% to $154.48, extending losses across global memory producers.