SanDisk Leads Memory Stocks Lower: A Look Inside the Rout
SanDisk plunged nearly 20% as AI and memory stocks sold off after election results raised fears of data-center delays and weaker chip demand.
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Ericsson shares surged 10.9% premarket after beating Q3 earnings and sales estimates; other small-cap stocks saw sharp gains and losses.
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SanDisk plunged nearly 20% as AI and memory stocks sold off after election results raised fears of data-center delays and weaker chip demand.
Micron stock has declined nearly 30% over six trading days amid concerns about Chinese competition. Chinese chipmaker CXMT announced $1 billion in DRAM prepayments and is developing high-bandwidth memory (HBM) chips. However, CXMT faces significant challenges with only 20-30% yield rates on next-generation HBM3E products, suggesting limited near-term threat to Micron's market position where SK Hynix currently dominates.
Sandisk (NASDAQ: SNDK) fell almost 8% premarket as post-midterm tech rotation hit memory chips, leaving analysts divided over further downside or a year-end rally.
U.S. stocks mixed: Dow +0.47%, Nasdaq -1.35%, S&P 500 -0.55%. Jobless claims fell to 189,000; oil and gold rose.
Rani Therapeutics Holdings, Inc. is scheduled to release its financial results for the third quarter of 2026 on November 5, 2026.