SanDisk plunged ~14% today on intensifying fears of a memory supply glut, dragging the broader semiconductor sector with it. Korean chip giants got hammered too โ SK Hynix fell 14%+ and Samsung dropped ~9% on the same fears. Analysts remain bullish (Bernstein at $3,000, BofA and Citi at $2,500), calling this a rotation out of AI chip stocks into AI software names rather than any fundamental breakdown. Is this the dip buyers have been waiting for in a hot memory cycle, or is the glut fear just getting started? Not financial advice.
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