SanDisk Falls as Memory-Sector Selloff Deepens

SanDisk shares fell about 6% on Monday, October 12, and remained under pressure in premarket trading Tuesday as a broader memory-sector selloff and concerns about competition weighed on investors. The decline came despite a credit-rating upgrade and positive assessments from analysts, highlighting a gap between the company’s financial outlook and the market’s reaction to developments across the chip industry. SanDisk traded near $1,446.09 before the market opened on October 13, down 2.8% from Monday’s close of $1,487.33, according to market reports. The stock had lost about 6% during Monday’s session. Other semiconductor and memory shares also declined amid investor concerns about memory pricing, new supply and the cost of financing artificial-intelligence infrastructure. A focus of the selloff was ChangXin Memory Technologies, or CXMT, which said it had made progress on a denser DRAM cell design. CXMT President Cao Kanyu said the company planned to introduce a server-memory product using the technology by the end of 2026. The development concerns DRAM, while SanDisk specializes in NAND flash storage, so the products do not directly overlap.