Since last month, when memory stocks hit their highs, SK Hynix Inc. (NASDAQ:SKHY) has plunged nearly 47%, and SanDisk Corp. (NASDAQ:SNDK) has lost more than 50%. Micron Technology Inc. (NASDAQ:MU) and Western Digital Corp. (NASDAQ:WDC) have each fallen roughly 33%.
Memory stocks have been hammered in July as investors bet that China’s rise in DRAM and fears of slowing AI investment signal the start of another semiconductor downturn. But SK Hynix’s earnings this week could determine whether that pessimistic narrative is justified — or whether investors have mistaken a timing issue for a collapse in demand.
