US Stock Market Move | Memory concept stocks fell collectively, with SanDisk (SNDK.US) down more than 9% in early trading.

On Friday, US memory concept stocks fell collectively. SanDisk (SNDK.US) dropped more than 9% in early trading, SK Hynix (SKHY.US) fell nearly 6%, and Micron Technology, Inc. (MU.US) declined more than 3%. On the news front, SanDisk released its fiscal 2027 first-quarter financial results. Boosted by surging NAND flash demand driven by AI infrastructure buildout and rising product prices, the company's quarterly revenue grew 378% year-over-year, with data center business revenue soaring nearly 17-fold. The company expects revenue to grow further next quarter and announced a 1-for-8 stock split plan. However, the strong results failed to stop the stock price decline, as market concerns over high valuations and the sustainability of memory chip prices intensified. SanDisk Chairman and CEO David Goeckeler said on the conference call that the data center business has grown from about 20% of total industry volume a decade ago to nearly half today. Looking ahead, data centers are expected to account for more than 55% of market share in 2027, with bid demand growing about 40% year-over-year. Goeckeler even boldly predicted: "By the end of this decade, KV Cache will account for about one-third of the AI data center flash memory market, and the AI data center market size will be close to today's NAND flash market."