IMPORTANT CORRECTION IN MEMORY STOCK TRADES AFTER SANDISK AND WESTERN DIGITAL PROFITS

The whole sector is plunging in pre-market:

-$WDC drop of 16%
-$SNDK down 12%
-$STX drop of 6%
-$SKHY drop of 7%
-$MU down 6%

Both companies exceeded revenue. SanDisk’s revenue rose 372% year-over-year, and Western Digital grew 44%.

The issue was guidance. SanDisk grew 51% in the last quarter and moved to 18% in the next quarter.

Growth is slowing, and the market thinks memory prices have hit their peak.


#USStocksEndMixedNvidiaLiftsDow #crash #MU #USInitialJoblessClaimsStayBelow200K #SNDK