SanDisk shares tumble 8% amid broader memory chip sell-off

Shares of SanDisk Corporation fell sharply in trading on Tuesday, July 7, 2026, extending a three-session decline as a broad sell-off in memory-chip stocks spread globally. The stock dropped approximately 8%, contributing to a total loss of around 23% over the past three trading days.

The downturn originated from a sector-wide profit-taking move, despite strong preliminary earnings from Samsung Electronics. The South Korean technology giant announced an operating profit of 89.4 trillion won for the second quarter, a massive year-over-year increase. However, its shares fell nearly 7% as investors locked in gains after a prolonged rally. This selling pressure quickly spread to U.S. markets, impacting major memory and semiconductor companies.

In the United States, Micron Technology and Western Digital each declined more than 7%. The weakness extended beyond memory specialists, with Intel and Advanced Micro Devices also falling. The Roundhill Memory ETF, which tracks the sector, dropped significantly. Analysts described the move as a market reset following extraordinary gains, rather than a fundamental break in demand driven by artificial intelligence.