Micron Falls 5%, SanDisk Sinks 6%, Western Digital Drops 7% as Higher Rates Test the Memory Boom
Semiconductor stocks including Micron, SanDisk, and Western Digital experienced significant declines due to rising Treasury yields. Analysts attribute the sell-off to a valuation reset rather than a shift in memory market fundamentals.
Why it matters
The volatility highlights how macroeconomic factors like interest rates can disproportionately impact high-growth sectors like AI infrastructure, despite strong underlying demand.
Memory and storage stocks are selling off Tuesday morning as rising Treasury yields pressure what has been the most extended trade in the semiconductor sector. Three names are anchoring the move.
Micron Technology ( NASDAQ:MU | MU Price Prediction ) stock is declining 5% to $962.85. Meanwhile, SanDisk ( NASDAQ:SNDK ) shares are down 6% to $1,681.10. Western Digital ( NASDAQ:WDC ) stock is cratering 7% to $500.05.
The declines cap a torrid 2026 run for the group. Through Monday’s close, Micron stock was up 255% year to date (YTD), SanDisk shares were up 653%, and Western Digital stock was up 211%. Nothing in today’s action points to a change in memory fundamentals; this is a valuation reset driven by the cost of capital.
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