U.S. Stocks in Motion | Memory concept stocks fall collectively; SanDisk (SNDK.US) drops over 9% in early trading.

Zhitong Finance APP has learned that on Friday, U.S. 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 (MU.US) declined more than 3%. On the news front, SanDisk released its fiscal 2027 first-quarter financial report. Boosted by a surge in NAND flash demand driven by artificial intelligence infrastructure construction and rising product prices, the company's revenue for the quarter increased 378% year over year, while data center business revenue soared nearly 17 times. The company expects revenue to grow further in the next quarter and announced a 1-for-8 stock split plan. However, the strong results still failed to prevent the stock price from falling, as market concerns about high valuations and the sustainability of memory chip prices intensified.