Movement Alert｜SanDisk Falls 11.86% in Regular Trading, Storage Chip Sector Suffers Broad Sell-Off

Market Focus06-23

On June 23, SanDisk fell 11.86% in regular trading, dropping to $2001.805/share with turnover of $3.265 billion, as a sweeping sell-off hit the global storage chip sector.

The decline was triggered by a sector-wide rout across storage and semiconductor names. The Philadelphia Semiconductor Index saw all 30 constituent stocks fall sharply. Micron Technology dropped over 10% pre-market, Western Digital fell over 9%, while Korean counterparts Samsung Electronics and SK Hynix both plunged over 12%. The Nasdaq futures tumbled over 800 points, and the three-times leveraged semiconductor ETF crashed 17%.

Market analysts attributed the sell-off to profit-taking following a sharp recent rally that left the sector increasingly overbought. Concerns over stretched AI-related valuations further weighed on sentiment. High retail leverage and elevated margin balances were cited as amplifying the downturn. The sell-off comes ahead of Micron Technology's fiscal Q3 earnings report scheduled for June 24, where analysts expect adjusted EPS growth of nearly 1000% year-over-year.

(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.

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