Why Sandisk Stock Tumbled 47% in July
The bigger the gains, the harder the fall.
Overview
Shares of memory-chip juggernaut Sandisk (NASDAQ: SNDK) were pulling back last month in line with a broader sell-off in the memory and AI infrastructure sectors as investors reassessed these stocks on fears that hyperscalers were overspending on capital expenditures.
Additionally, the launch of China's new AI model and an IPO spooked investors, as some feared it could drive down prices for crucial components like memory. The Information also reported that Anthropic was developing its own AI chip, potentially making it a competitor with Sandisk.
Details
According to data from S&P Global Intelligence, the stock finished the month down 47%.
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.