Why Sandisk Stock Is Still Dropping
Investors were wrong to sell TSMC stock today -- and probably wrong to sell Sandisk, too.
Overview
Sandisk (NASDAQ: SNDK) stock sold off for a second straight day Thursday -- but why?
Shares of NAND semiconductor memory chip manufacturer tumbled 9.6% through 11:15 a.m. ET after Taiwan Semiconductor Manufacturing Company (NYSE: TSM) beat analyst estimates in its Q2 earnings report, growing profits 77% year over year. But TSMC also warned investors will spend upwards of $60 billion on capital investment this year, versus prior forecasts of about $54 billion.
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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.