Micron and SanDisk shares fell sharply while Western Digital rallied, as investors rotated out of memory-chip names into a pure hard-disk-drive play. Micron dropped 5% and SanDisk slid 7% in early trading Monday, even though both have posted massive year-to-date gains of 265% and 713% respectively. Western Digital, which completed its divestiture of SanDisk in February 2025, climbed 6% as it is insulated from NAND pricing fears and supply-glut concerns. Analysts pointed to profit-taking after parabolic runs, with Micron’s blowout fiscal Q3 2026 results triggering a sell-the-news reaction, while Western Digital benefits from hyperscaler contracts and a comparatively cheaper valuation. Morgan Stanley maintained overweight ratings on Micron and SanDisk, framing the selloff as a rotation rather than a fundamental collapse in the memory super-cycle.
Micron Technology Inc
Sandisk Corp
Western Digital Corporation