The latest selloff extends a sharp decline in memory chip stocks that began late last month.
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SKHY stock dropped 7% in the overnight session late Tuesday, while MU and SNDK fell about 5% each.
The memory maker's two valuation multiples describe two different companies. Believing the cheap one requires one big assumption.
Chinese authorities have imposed new barriers on Western Digital’s Sandisk unit, adding fresh constraints on its China operations in 2026. These measures come as China ramps up state-backed initiatives and competitive efforts that weigh on foreign chipmakers’ supply chains and market access. The developments coincide with a wider chip sector selloff that has pushed the Nasdaq 100 into correction territory. Western Digital, traded as NasdaqGS:WDC, sits at the crossroads of flash storage,...
The market has been spooked by concerns of tech giants’ ballooning spending and signs that China may be catching up in the AI arms race. Asian chip stocks plunged, sending South Korea’s Kospi index 10% lower and Japan’s Nikkei down 4%. The worst-hit American names included memory makers Sandisk which fell another 14%, and Micron, which shed 8.9%.
Shares of a number of chipmakers are falling, extending a rough stretch for the AI trade and dragging the Nasdaq lower.
The Dow left the Nasdaq in the dust again on Tuesday. The Nasdaq fell 0.2%. The Dow was led by a wave of strong earnings performances including Sherwin-Williams, but a majority of S&P 500 stocks were up all day.

Yahoo Finance Markets and Data Editor Jared Blikre takes a closer look at recent market action in the semiconductor sector (^SOX).
Sandisk and Western Digital are outpacing NVIDIA as AI demand boosts memory and storage growth. See what's fueling their momentum.
Micron stock was among the sharpest fallers Tuesday after being spared the worst of the selling in the previous session. Micron stock was down 9% by midafternoon, while Sandisk Western Digital and Advanced Micro Devices were down around 15%, 8.2%, and 7.9%, respectively. The Nasdaq Composite was mostly flat despite the chaos.
Sandisk and Micron have emerged as leading beneficiaries of the artificial intelligence (AI) memory boom.
SNDK stock dropped to an intra-day low of around $1,050 before recovering part of its losses.
Micron Technology stock plunged on Tuesday as semiconductor stocks broadly continued to sell off. In morning trades on the stock market today, Micron fell more than 11% to 796.46. It was among the worst performers on the Philadelphia semiconductor index, known as SOX.
Sandisk stock has fallen 10% or more per day for three straight days. Here's why.
Memory stocks are cratering for the second straight session with no company-specific bombshell to blame, and Big Tech earnings due Wednesday could either end the pain fast or send the group into a deeper spiral.
The last time SK Hynix Inc. (NASDAQ:SKHY) suffered a monthly decline this severe, Lehman Brothers had just collapsed. Shares of the South Korean memory giant have plunged roughly 41% this month, marking their worst monthly performance since October 2008. The selloff accelerated Tuesday, with the stock dropping another 14% in Seoul just one day before second-quarter earnings. SK Hynix will report second-quarter earnings on Wednesday, after the close. Chart: SK Hynix Eyes Worst Monthly Performance
Memory stocks delivered some of the biggest gains in semiconductor history as AI demand swept through the sector, rewarding investors who got in early. Now those same stocks are cratering, and the question keeping traders up at night is whether this is a buying opportunity or the beginning of something far more painful.
Stock Market Today: The Dow Jones index rose, but tech futures dropped as chip stocks Micron and Sandisk dived. Coca-Cola jumped on earnings.
Taiwanese prosecutors just detained an Nvidia employee in a chip smuggling probe already linked to Supermicro's stunning collapse, and investors are scrambling to figure out whether history is about to repeat itself.