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Storage Concept Stocks Plummet: SanDisk Falls Over 13%, Micron Drops Over 12%

On June 23, U.S. storage concept stocks experienced a sharp decline, with SanDisk falling over 13% and Micron dropping over 12%. Other companies such as Phison Electronics and Western Digital saw declines of over 9%, while Seagate Technology fell over 8%. In related news, the South Korean Composite Index plummeted nearly 10% today, marking the largest single-day drop since March 4 of this year. The two major storage giants, Samsung Electronics and SK Hynix, both closed down over 12%. The South Korean market has shown clear signs of overheating after reaching historic highs, and growing concerns about the Federal Reserve's interest rate hikes have also weighed on the performance of AI tech stocks. Currently, the market is focused on Micron Technology's quarterly earnings report, viewing it as a 'touchstone' to assess the quality of AI hardware stocks.

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