Changes in US stocks | Storage sector opens and declines widen, SanDisk (SNDK.US) falls more than 4%

The Zhitong Finance App learned that on Monday, the opening decline of the storage sector widened, with Micron Technology (MU.US) and SanDisk (SNDK.US) falling more than 4%, Hynix (SKHY.US) falling more than 3%, and Western Digital (WDC.US) and Seagate (STX.US) falling more than 2%.

According to the news, South Korea's storage company SK Hynix and Samsung Electronics were under pressure on the Korean stock market throughout the day on Monday, and negative market sentiment was further transmitted to US stocks. Market analysts believe that the big sell-off in foreign capital may be an important reason for the decline. According to data from the Korea Exchange, as of October 7, the proportion of shares held by foreign investors in Samsung Electronics fell to 46.37%, the lowest since July 16, 2009, and a new low of about 17 years. The share of foreign investors holding SK Hynix is 49.59%. Since falling below 50% at the end of last month, it has been hovering in the 49% range for 8 consecutive trading days.

Furthermore, Morgan Stanley pointed out that an unprecedented global AI boom is creating a supercycle of memory chips with stronger demand and a longer duration, yet the inevitable traditional boom-recession cycle of supply expansion, price changes, and profit fluctuations still exists. What really needs to be verified in the upcoming full-scale earnings season is whether these memory chip giants can continue to generate increases beyond expectations even after recording record profits.