1 hour ago
7
David Moadel
Thu, July 2, 2026 astatine 11:02 AM CDT 4 min read
Quick Read
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Shares of SanDisk plunged 11%, Seagate slid 7%, and Micron dropped 4%, extending back-to-back losses arsenic the representation assemblage trimed its bonzer 2026 gains.
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Bank of America raised its SanDisk banal terms people to $2,500 with a Buy rating, a determination that straight counters Morningstar's informing of a 20 to 30 percent driblet ahead.
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Micron reported 346% year-over-year gross growth, guides Q4 to $50 billion, and trades astatine conscionable 7x guardant net contempt today's share-price descent.
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Act now: the expert who called NVIDIA successful 2010 conscionable named his apical 10 AI stocks — and Micron Technology didn't marque the cut. Grab the names FREE today.
Memory and retention stocks are sliding again Thursday morning, extending a uncommon pullback for a radical that has posted bonzer gains done 2026. SanDisk (NASDAQ:SNDK) banal is starring the declines, down 11% to $1,802 successful midday trading. Seagate Technology (NASDAQ:STX) shares are disconnected 7% to $852, Western Digital (NASDAQ:WDC) shares are down 7% to $556 and Micron Technology (NASDAQ:MU) banal is little by 4% to $992.
The assemblage proxy is moving successful lockstep. The Roundhill Memory ETF (CBOE:DRAM) is down 5% to $62, reflecting wide weakness crossed NAND, DRAM, and hard-disk-drive names arsenic traders trim vulnerability to immoderate of 2026's biggest winners.
Thursday marks the 2nd consecutive league of declines, with Micron and SanDisk banal besides falling sharply connected Wednesday. The setup looks similar profit-taking and organization rebalancing astatine the commencement of the 2nd half, without a wide cardinal trigger, catalyzed by a caller informing from a well-known probe shop.
Morningstar Warning Fuels the Reset
The contiguous catalyst is commentary from Morningstar's manager of research, Lorraine Tan, who told Bloomberg TV that a ample portion of AI names could springiness backmost 20% to 30% earlier becoming buyable again. As we elaborate recently, Tan flagged the biggest-gaining representation names arsenic the astir exposed to a valuation reset.
Act now: the expert who called NVIDIA successful 2010 conscionable named his apical 10 AI stocks — and Micron Technology didn't marque the cut. Grab the names FREE today.
Her interest centers connected capacity. Announced proviso additions from Samsung and SK Hynix are expected to soften representation pricing arsenic proviso catches up with demand, portion AI superior expenditure is expected to highest successful 2026 and taper thereafter. That operation targets precisely the pricing powerfulness that drove the group's melodramatic borderline enlargement this cycle, and it lands connected stocks that person posted tremendous multi-hundred-percent gains successful 2026.
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