QUICK SPARK: Micron, SK Hynix And Memory Stocks Wipe Out More Than $2 Trillion Since June Highs
Intel Corporation INTC | 0.00 | |
Micron Technology, Inc. MU | 0.00 | |
Seagate Technology Holdings PLC STX | 0.00 | |
Western Digital Corporation WDC | 0.00 | |
Sandisk Corporation SNDK | 0.00 |
The AI memory trade has flipped from Wall Street’s hottest bet to one of its biggest wealth destroyers.
Since peaking in late June, the world’s largest memory and storage companies have erased more than $2 trillion in combined market capitalization
- Samsung Electronics Co. Ltd. (OTC:SSNLF) has lost about $546 billion
- SK Hynix Inc. (NASDAQ:SKHY) over $501 billion
- Micron Technology Inc. (NASDAQ:MU) roughly $440 billion
Kioxia Holdings Corp. (OTC:KXIAY) SanDisk Corp. (NASDAQ:SNDK), Western Digital Corp. (NASDAQ:WDC) and Seagate Technology Holdings plc (NASDAQ:STX) have also suffered sharp declines.
| Company | Market Cap Lost From High |
|---|---|
| Samsung Electronics | $545.73B |
| SK Hynix | $501.83B |
| Micron Technology | $439.72B |
| Kioxia Holdings | $218.99B |
| SanDisk | $181.88B |
| Western Digital | $98.72B |
| Seagate Technology | $77.56B |
| Total | $2.06 Trillion |
The rout accelerated this week after China’s memory giant ChangXin Memory Technologies (CXMT) went public in Shanghai, prompting investors to shift their focus from booming AI demand to the risk that surging Chinese capacity could spark a new price war across the memory industry, despite hyperscalers continuing to ramp up AI spending.