Why Sandisk Stock Tumbled 47% in July
Shares of memory-chip juggernaut Sandisk (NASDAQ: SNDK) were pulling back last month in line with a broader sell-off in the memory and AI infrastructure sectors as investors reassessed these stocks on fears that hyperscalers were overspending on capital expenditures.
Additionally, the launch of China's new AI model and an IPO spooked investors, as some feared it could drive down prices for crucial components like memory. The Information also reported that Anthropic was developing its own AI chip, potentially making it a competitor with Sandisk.
According to data from S&P Global Intelligence, the stock finished the month down 47%.
Source Fool.com
