Movement Alert|SanDisk Corp. Falls 6.55% in Regular Trading, Storage Sector Broadly Sells Off as Non-Farm Data Exceeds Expectations and AI Repricing Fears Mount

Market Focus
Aug 24

On August 24, SanDisk Corp. declined 6.55% in regular trading, trading at $1473.415/share, with turnover of $1.605 billion.

On the news front, stronger-than-expected U.S. non-farm payroll data pushed Nasdaq futures down 1.35% and the semiconductor ETF down nearly 3%, triggering broad selling across storage and chip names. Simultaneously, Broadcom's AI chip sales outlook fell short of elevated market expectations, with analysts noting the market had priced in too many perfect assumptions for AI — even minor disappointments could trigger sharp repricing across the sector.

Storage stocks declined broadly, with Micron Technology falling over 4%, SK Hynix down over 3%, Western Digital down over 3%, and Seagate Technology down over 3%. SanDisk had previously accumulated gains exceeding 31% in August alone, and short-term profit-taking pressure combined with macro headwinds amplified the magnitude of the pullback.

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