Sandisk's stock dropped as investors moved away from the chip sector after strong gains earlier this year. However, ongoing supply shortages of NAND memory expected through next year could support Sandisk's stock price. An analyst notes that Sandisk's new business model contracts might eventually provide better revenue visibility, potentially benefiting the company despite sector rotation. Additionally, Meta Platforms' possible sale of excess cloud capacity may be influencing chip sector sentiment.
The FTSE 100 fell by 54 points to 10,443 amid mixed UK manufacturing data and flat house prices. Oil prices fluctuated due to ongoing indirect US-Iran talks in Doha, causing market uncertainty. US tech stocks, especially chipmakers like Micron and Sa...
Wall Street ended the week lower, led by a sharp selloff in semiconductor and big tech stocks, with ON Semiconductor down nearly 30% and others like Western Digital and Arm Holdings also falling significantly. Despite strong earnings from Micron Tech...
