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.
Stocks · News reference
A member of Congress is selling semiconductor and data storage stocks. Here are the stocks he sold and more on his 2026 trading history.
Reference Details
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
Keep reading
SanDisk plunged nearly 20% as AI and memory stocks sold off after election results raised fears of data-center delays and weaker chip demand.
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.
Texas Instruments has launched a new multiprotocol communications system-on-module and an IO-Link master to enhance interoperability in industrial automation and robotics.
Global semiconductor sales hit a record $517.7 billion in Q3 2026, surging 24.1% quarter-over-quarter and 146.8% year-over-year, driven by robust AI infrastructure investment. Four semiconductor stocks—Analog Devices, Taiwan Semiconductor Manufacturing, Texas Instruments, and NVIDIA—are positioned to capitalize on elevated demand and strong growth opportunities in the sector.
Chip stocks have historically risen in the year following midterm elections, with the PHLX Semiconductor Index gaining an average of 42% across the past eight cycles. However, 2026 presents a different scenario: the index entered Election Day up 46% from a year prior—the strongest pre-midterm performance on record. The author suggests this strong pre-election rally may limit future gains, potentially resulting in more modest returns similar to the quieter post-midterm years of 2010 and 2014, rather than repeating the typical 40%-plus average gains.
ASML and TSMC dominate their respective semiconductor niches and are well-positioned to benefit from the booming AI chip demand. ASML, the sole manufacturer of advanced EUV lithography machines, is experiencing faster growth with 55% revenue increase and 133% net income growth. TSMC, the world's largest foundry with 73% market share, is growing at a solid 41% revenue pace. Both stocks are recommended, though ASML offers higher growth while TSMC provides a better value-growth mix.