Memory Chips Slide in Overnight Session, Micron Down Over 4%, SanDisk Nearly 4%
Complete. Here is the key summaryThe memory chip sector fell broadly in overnight trading. Micron Technology dropped over 4% to $861.97, while SanDisk declined nearly 4% to $1,223.53. Major names including Western Digital and Seagate Technology also posted notable losses amid weak sentiment.
The memory chip sector faced broad selling pressure during the overnight session, with all major names trading lower. As of press time, Micron Technology (MU.US) was down over 4% in overnight trading at $861.97, significantly below its previous close of $900.20, with an intraday low of $858.12. SanDisk (SNDK.US) also came under pressure, falling nearly 4% to $1,223.53, down notably from its previous close of $1,278.23.
Other major names also struggled. Western Digital (WDC.US) traded at $475.28 in the overnight session, down approximately 4.55%, while Seagate Technology (STX.US) was at $788.00, declining about 3.55%. MRAM.US traded at $14.45 in overnight hours, down roughly 3.34%. Among derivative names, MUU.US, MUD.US, SNXX.US, and SNDQ.US all showed varying degrees of decline. SNXX.US fell 9.34% to $10.19 in overnight trading, while MUD.US rose 4.27% to $12.45, standing out as one of the few gainers in the sector.
Overall, sentiment in the memory chip sector turned negative during the overnight session, with most names declining more than 3%, indicating investor caution on near-term prospects. While some divergence existed within the sector, the broad weakness among major leaders could weigh on the next day's open.