SK Hynix's Weak Profit Estimate Sparks Sharp Decline in Memory Stocks
Memory and storage stocks dropped sharply after SK Hynix reported weaker-than-expected second-quarter profit estimates. Micron (NASDAQ:MU), SanDisk (NASDAQ:SNDK), and Western Digital (NASDAQ:WDC) each fell around 6%, while the Roundhill Memory ETF plummeted nearly 9%. The decline was triggered by slower-than-anticipated shipments of HBM4 memory, which undermined investor confidence in the sector.
Tickers: $MU $SKHYV $SNDK $WDC
Topics: memory_stocks Micron SanDisk SK_Hynix_profit_estimate Western_Digital