Memory Stocks Tumble on Oversupply Concerns; SanDisk Leads Decline

SanDisk, Seagate, and Micron shares drop as traders trim exposure amid fears of a memory chip supply glut. SanDisk, Seagate, and Micron shares fell sharply in midday trading, extending losses as the memory sector faces oversupply fears. SanDisk led declines with an 11% dro

SanDisk, Seagate, and Micron shares drop as traders trim exposure amid fears of a memory chip supply glut.

SanDisk, Seagate, and Micron shares fell sharply in midday trading, extending losses as the memory sector faces oversupply fears. SanDisk led declines with an 11% drop to $1,802, while Seagate and Micron slid 7% and 4%, respectively.

The pullback follows a strong 2026 rally, with Micron reporting 346% year-over-year revenue growth and guiding Q4 revenue to $50 billion. Despite the decline, Micron trades at just 7x forward earnings. The Roundhill Memory ETF fell 5% to $62, reflecting broad sector weakness.

Bank of America raised its SanDisk price target to $2,500 with a Buy rating, contrasting Morningstar’s warning of a 20 to 30 percent potential drop. The declines mark the second straight session of profit-taking and institutional rebalancing.

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