StocksMediumUpdated•Originally published 12 October 2026•Updated 12 October 2026•
1 min read
Memory Sector Selloff Deepens as SanDisk and Seagate Shares Slump
Key Facts
1Shares of Micron and SK Hynix fell following positive news regarding their Chinese rival CXMT.
2Iren shares jumped following a report of a deal with AI firm Anthropic.
The selloff in the memory chip sector broadened to include SanDisk and Seagate, with SanDisk shares dropping 6% to $1,484.21. Seagate shares fell 4% as memory chipmakers face intensified competitive pressures.
Barron's reported that the decline follows positive developments for Chinese rival CXMT, shifting market sentiment away from previous supply-shortage narratives. MU closed at $1029 and SKHY closed at $169.03 on October 9, 2026, while AMZN closed at $262.43 on the same date.