Memory-chip stocks Micron Technology and SanDisk took a dive on Tuesday. The decline in SanDisk stock is attributed to broader memory sector weakness and competitive worries following CXMT's IPO.
Chinese memory maker ChangXin Memory Technologies (CXMT) held an IPO on the Shanghai Stock Exchange, surging 466% on its first day and closing with a market capitalization of $487 billion. CXMT is one of two Chinese suppliers of DRAM memory chips.
Apple is seeking to buy DRAM memory chips from CXMT. SanDisk specializes in NAND flash memory, not DRAM.
SanDisk price volatility
SanDisk stock fell by 11.7% on Monday (as of 1:10 p.m. ET). SanDisk stock dropped 11% on the previous Friday. SanDisk stock dropped 6% in premarket trading on Tuesday.
Fiyat verileri konusunda çelişkili raporlar bulunmaktadır; bazı kaynaklar hisse fiyatının 1.207-1.221 dolar aralığında olduğunu belirtirken, diğerleri 99 dolar civarında bir destek seviyesine işaret etmektedir.
Dow Jones Industrial Average futures rose 0.8% ahead of Tuesday's open, while S&P 500 futures moved down 0.1%.
SanDisk's operating profit margin is 70%. SanDisk stock has soared more than 400% since the start of the year.
SanDisk hissesinin bir 'baş ve omuz' formasyonunun boyun çizgisinin altına düştüğü iddia edilmektedir.