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SNDK -12%, MU -9%: Storage Trade Ending?
The tech selloff that began in software is now spilling into AI hardware, with storage stocks facing a sharp crowded-trade unwind. As risk appetite faded, high-beta leaders saw heavy profit-taking: SanDisk fell 12%, Western Digital nearly 11%, Micron Technology over 9%, and Seagate Technology about 7%. With six-month gains exceeding 1,100% for SanDisk and bullish targets piling up, expectations were stretched. This looks less like a fundamentals break—and more like a valuation reset after extreme optimism.
Is this a healthy shakeout—or the start of a deeper de-rating for AI storage stocks?
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