Memory Stocks Drop as Samsung's Earnings Trigger Selloff
Samsung Electronics' record Q2 operating profit of $58 billion triggered a selloff in global memory and storage stocks, with Micron (NASDAQ:MU), SanDisk (NASDAQ:SNDK), Western Digital (NASDAQ:WDC) each falling around 7%. The decline reflects profit-taking after strong year-to-date gains. UBS and Bank of America view the pullback as a healthy reset.
Tickers: $DRAM $MU $SNDK $STX $WDC