Memory Stock Sell-Off: Is This the Time to Buy Micron Technology and Sandisk Like There's No Tomorrow?
Micron and Sandisk have pulled back significantly after reaching 52-week highs last month.
Overview
Micron Technology (NASDAQ: MU) and Sandisk (NASDAQ: SNDK) have been among the hottest stocks on the market this year, delivering stunning returns to investors due to their phenomenal revenue and earnings growth.
Micron stock has nearly tripled in 2026 already, while Sandisk has clocked a terrific jump of 489%. However, both memory stocks have recently experienced significant pullbacks. While shares of Micron have retreated 22% after hitting a 52-week high on June 25, Sandisk is down 30% since reaching its 52-week high on June 22.
Details
However, these pullbacks have nothing to do with the memory market's prospects. Instead, Wall Street is worried that rising memory costs could reduce demand for products such as smartphones and consoles, thereby hurting the margins of companies selling consumer electronics. But it is a pretty well-known fact that the sales of smartphones, personal computers (PCs), and consoles have been declining due to the memory shortage, and this hasn't done anything to dent the prospects of Micron and Sandisk.
Source
Originally published at www.fool.com.