Memory, Data Storage Stocks Slide in Tech Selloff
By Dean Seal
Shares of memory and data storage companies are getting caught up in the tech stock slump that has followed Samsung's latest quarterly update.
Micron shares are down 5% at $933 ahead of the opening bell. Shares of Sandisk and Seagate Technology are down about 6% and Western Digital's stock has dropped 7% in premarket trading.
The selloff kicked off after Samsung Electronics' strong report, which showed a 19-fold surge in profit and forecast more earnings growth later this year. Investors nonetheless started selling their Samsung shares, sparking declines among Samsung's suppliers, rival memory-chip makers and other tech sector stalwarts.
The downbeat reaction to Samsung's earnings are being viewed as a sign of tech stock fatigue following a strong run tied to the proliferation of artificial intelligence and heavy investment in AI-related infrastructure.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 07, 2026 09:43 ET (13:43 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
Your 7-Figure Retirement Fund Might Not Stretch As Far As You Think. Here’s How to Change That
This Wide-Moat Stock Is Still a Buy After Its Rally
These 15 Stocks Destroyed the Most Shareholder Value Over the Past Decade
3 Stocks to Sell and 3 Stocks to Buy in August
United States