Shares of SanDisk Corporation tanked as low as 11.2% to $1,416.2 during trading session on Monday, August after reports said that the US is considering a change in policy, which is likely allow Apple to get DRAM chips from China's CXMT and NAND flash memory from YMTC.
This revision is expected to bring a major competitive threat to US -based memory suppliers, reports said.. Following this development, shares of SanDisk and peer Micron Technology fell sharply during pre-market session.
Additionally, the weakness in Sandisk shares comes after Samsung Electronics on Friday said that its 2026 shareholder return program would amount to 90 trillion to 110 trillion Korean won, falling short of investor expectations. This triggered a broader sell-off in semiconductor stocks, particularly memory companies.
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Micron Technology shares declined around 7.25% to $896.73, AMD shares dropped more than 3.52% to $456.60, while Intel fell 4.32% to $86.18 as of 11:23 a.m. EDT.
The semiconductor space has continued to face volatility since June with cycles of profit-taking and massive sell-offs, as concerns grow over heavy artificial intelligence spending by big tech companies, according to reports.
The semiconductor stocks are under pressure ahead of Nvidia's earnings later this week and the Federal Reserve's Jackson Hole gathering.
Nvidia is scheduled to report results on Wednesday, while Marvell Technology is set to declare its earnings on Thursday. Both updates are expected to provide important signals on the strength of AI-related demand and corporate spending on data-centre infrastructure.
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