Memory Chips Slide in Overnight Session, Micron Down Nearly 7%, SanDisk Nearly 11%
Complete. Here is the key summaryThe memory chip sector fell collectively during the overnight session. Micron Technology dropped nearly 7%, while SanDisk declined over 10%. Western Digital, Seagate Technology, and Everspin Technologies also saw significant losses, reflecting weak sector sentiment.
The memory chip sector faced significant selling pressure during the overnight session, with all major stocks closing lower. As of press time, Micron Technology (MU.US) traded at $920.95, down 6.99% from the previous close. SanDisk (SNDK.US) performed even weaker, dropping 10.79% to $1,436.56.
Other constituents were not spared. Western Digital (WDC.US) fell 6.89% to $519.80, and Seagate Technology (STX.US) declined 6.75% to $851.69. Small-cap Everspin Technologies (MRAM.US) dropped 9.10% to $15.09. On the derivative ETF front, related leveraged and inverse products moved with the sector: MUU.US fell 14.32%, MUD.US rose 6.96%, SNXX.US plunged 21.29%, and SNDQ.US gained 22.09%.
Overnight trading volume showed Micron Technology recorded approximately $38 billion in turnover, while SanDisk saw about $20.8 billion. Market activity remained heavy but uniformly directional. Lacking supportive news, the sector retreated collectively under macro or industry-specific pressures. Investors should monitor the trend following the market open.