Memory chip stocks sell off across the board before the market opens
- SK Hynix is down about 6%, SanDisk 5%, Micron, Seagate, and Western Digital are all down around 4%, while TSMC is still down 2% after its Q3 earnings report.
- Selling pressure is concentrated in NAND flash and HDDs. There’s been no sign of cutbacks in foundry orders. What’s being shaved off the AI computing power trade is a chunk of its valuation, not actual production schedules.
AI-themed coins are significantly more likely to follow the drop than rally. Short-term sentiment is bearish. The key thing to watch is whether the previous low can hold and absorb selling pressure. This is largely decoupled from that trend and is still moving according to its own funding flows.
With this wave of bad news from the memory sector spilling over to computing-power coins, are you buying the dip or cutting your position in half first?
$TAO $RNDR $BTC
- SK Hynix is down about 6%, SanDisk 5%, Micron, Seagate, and Western Digital are all down around 4%, while TSMC is still down 2% after its Q3 earnings report.
- Selling pressure is concentrated in NAND flash and HDDs. There’s been no sign of cutbacks in foundry orders. What’s being shaved off the AI computing power trade is a chunk of its valuation, not actual production schedules.
AI-themed coins are significantly more likely to follow the drop than rally. Short-term sentiment is bearish. The key thing to watch is whether the previous low can hold and absorb selling pressure. This is largely decoupled from that trend and is still moving according to its own funding flows.
With this wave of bad news from the memory sector spilling over to computing-power coins, are you buying the dip or cutting your position in half first?
$TAO $RNDR $BTC