Movement Alert|Kioxia Holdings Falls 7.98% in Pre-Market Trading, Semiconductor Sector Broadly Weak as Bearish Investment Bank Call Adds Pressure

Market Focus07-01 20:03

On July 1, Kioxia Holdings fell 7.98% in pre-market trading, trading at $54.43/share, with turnover of $59,700. The stock extended its recent correction amid broad semiconductor sector weakness and continued bearish pressure from a major investment bank.

On the news front, international investment bank Bernstein maintains its Underperform rating on Kioxia, estimating approximately 50% downside from the current share price. The firm argues that the company's exceptionally high gross margins are a cyclical windfall driven by a temporary supply-demand gap, and that NAND flash memory prices may be approaching a peak before declining. Additionally, the stock had surged over 17% on June 25 following the announcement of plans to list on a U.S. exchange via ADR in early fiscal 2027, but that catalyst has since been fully priced in, with shares retracing gains in subsequent sessions.

Within the Semiconductors sector, stocks declined broadly. Among individual names, Micron Technology fell 2.89%, NVIDIA fell 0.64%, Advanced Micro Devices fell 1.47%, Intel fell 1.61%, and Marvell Technology fell 1.98%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment