Shares of memory and artificial-intelligence chip companies have been battered this week as a broad sell-off spread from one market to the next.
According to Seeking Alpha, AI memory and chip stocks continued to fall as the sell-off carried on, with global peers also tumbling. The pressure was not confined to a single company or region — it moved across the sector and across borders.
One of the sharpest single-day moves came from SanDisk. According to Blockonomi, the stock (ticker SNDK) plunged 13.37% on Thursday, a drop it attributed to a "sector rotation" in which traders shifted money out of AI hardware and into AI software. Blockonomi also reports that Bank of America raised its price target on SanDisk to $2,500 even as the shares were selling off — a sign that some analysts stayed bullish on the company despite the day's losses.
The picture was not uniformly grim. A report carried by MSN noted that memory and AI-related stocks were mixed on Thursday as they tried to rebound from the previous day's decline. Wall Street's major averages opened higher that morning, the report said, following a weaker-than-expected June nonfarm payrolls figure — economic data that can shape expectations for interest rates and, in turn, appetite for high-flying tech shares.
Taken together, the sources describe a volatile stretch: a sell-off that hit memory and AI chip names hard, an attempt to steady on Thursday, and a rotation within the AI trade itself from hardware toward software.
Why it matters: memory and AI chipmakers have been among the market's biggest winners, so sharp swings in these stocks signal how fragile investor confidence in the AI boom can be — and how quickly money moves when sentiment turns.