Why Sandisk Stock Dropped This Morning
China is coming for Sandisk's market share. It's time to start worrying.
Overview
Sandisk (NASDAQ: SNDK) stock sank 7.5% through 11:40 a.m. ET Monday after tech website WCCTech reported the Trump Administration will permit Apple to purchase memory chips from Chinese suppliers ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies Corp (YMTC).
Image source: Getty Images.
Only one of the two Chinese companies -- YMTC -- competes directly with Sandisk in the manufacture of NAND memory chips. (CXMT focuses on making DRAM chips... for now.)
Details
Source
Originally published at www.fool.com.
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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.