Memory Stocks Face Sharp Pre-Market Declines Amid Multiple Market Concerns
On Tuesday, memory and storage stocks such as Micron Technology (NASDAQ:MU), SanDisk (NASDAQ:SNDK), Seagate Technology (NASDAQ:STX), and Western Digital (NASDAQ:WDC) are experiencing significant pre-market losses. The selloff follows sharp declines in Asian markets where Samsung fell 13%, SK Hynix dropped 15%, and Kioxia lost 18%. Three key factors are contributing to the downturn: fears over China's development of DUV lithography machines, concerns about NVIDIA’s $750 billion circular financing with OpenAI and SK Hynix, and a leveraged unwind in Korea following an earlier market surge. The AI memory trade has been one of 2026’s strongest performers. Micron is up over 415% year-to-date while SanDisk surged by more than 438%. However, the recent correction shows signs of unwinding with Micron down nearly 20% in a month and SanDisk falling almost 39%. Despite these declines, fundamentals remain strong: Micron has guided for $50 billion ±$1.0 billion Q4 revenue while Seagate expects $5.00 ±$0.20 EPS.
Tickers: $MU $NVDA $SKHYV $SNDK $STX $WDC
Topics: asia_markets circular_finance memory_stocks semiconductors