Memory Stocks Lose Momentum as Smart Money Moves On

Price ActionAnalyst

โดย Bloomberg·

Summary · why it matters

Memory stocks are struggling to regain momentum after ripping through the first half of the year, as growing concerns about the state of the artificial intelligence trade overshadow their strong fundamental backdrop. Sandisk Corp., Micron Technology Inc., Western Digital Corp. and Seagate Technology Holdings Plc remain among the top performers in the S&P 500 Index this year, but the shares are way off their highs and appear stuck around where they were in May. Sandisk, which began trading in February 2025, ended the year up more than 500% and then leaped another 143% in January; midway through 2026, every member of the group had more than tripled for the year, led by Sandisk's 858% surge from the start of January through June 30. The change isn't about fundamentals, as Sandisk gave bullish long-term financial targets at last week's investor day and New Street Research upgraded Micron to buy, saying its growth prospects and balance sheet strength correspond to a market capitalization of between $2 trillion and $3 trillion by the end of the decade. However, the overall backdrop has become more complicated with rising interest rates and growing concern about what could happen if conditions deteriorate, though Wall Street continues to see gains ahead with Bank of America naming Micron one of its select opportunities.