Sandisk Corporation (SNDK) spent most of the past year rewarding investors who backed the artificial intelligence (AI) trade. Relentless optimism over booming memory demand kept the stock climbing until the rally suddenly lost its footing. On Monday, July 27, shares tumbled 11%, making Sandisk the worst-performing stock on the S&P 500 Index ($SPX).
The sell-off spilled over into the semiconductor sector, leaving other chip stocks under pressure too. Traders returned the next day with little appetite for bargains, driving another 14.25% intraday decline. The retreat revived a familiar debate among retail investors over whether Sandisk could hold above the psychological $1,000 mark.
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The sell-off spilled over into the semiconductor sector, leaving other chip stocks under pressure too. Traders returned the next day with little appetite for bargains, driving another 14.25% intraday decline. The retreat revived a familiar debate among retail investors over whether Sandisk could hold above the psychological $1,000 mark.
Nasdaq Futures Plunge as Chip Selloff Rages On, FOMC Meeting and Earnings on Tap
Ahead of Microsoft Earnings, Here's What Barchart Data Says Comes Next for MSFT Stock
Michael Burry Is Doubling Down His Short Bets Against Micron and Nvidia. What That Tells Us About the Future of Chip Stocks.
#sandisk #Stock #earnings #stocks
2 months ago
