It has been a bruising 24 hours for investors in memory chip storage companies, including Micron Technology, Inc. (Nasdaq: MU), Sandisk Corporation (Nasdaq: SNDK), Western Digital Corporation (Nasdaq: WDC), and Seagate Technology Holdings (Nasdaq: STX).
Yesterday, all four leaders in the memory chip space ended the day significantly lower.
Here’s what’s happening—and why some are questioning whether the RAM shortage that has driven these companies’ stock prices to new heights will soon come to an end.
Memory chip stocks get pummeled—again
Just a few weeks ago, the sky seemed to be the limit for memory chip makers. After all, the world is in the middle of a full-blown RAM shortage, which means memory chips are in high demand.
This demand has caused the stock prices of four companies—Micron, Sandisk, Western Digital, and Seagate—to surge over the past six months, with performance that has been, simply put, eye-watering.
For example, the least best-performing stock of the four companies is Seagate, but even its stock price has risen 53% in the past six months.
Micron’s stock price has performed even better, rising 92%. Western Digital is up even more, rising 109% over the past six months.
