Sandisk Stock Plunged 14% in a Day. Is the AI Memory Boom Cracking?
A brutal one-day drop has investors asking whether the memory rally has finally run out of room.
Overview
On July 2, Sandisk (NASDAQ: SNDK) stock fell about 14% in a single session, closing at $1,745. It wasn't alone. The sell-off tore through the entire memory complex -- Micron dropped, and shares of Samsung and SK Hynix fell sharply in Seoul.
For a stock that had risen more than 700% this year, a big one-day drop like that naturally raises the question: Is the artificial intelligence (AI) memory boom finally cracking?
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.