US Memory Chip Stocks Plunge 15% on Missed Guidance and Supply Bottlenecks

SanDisk drops 10% and Western Digital falls 15% premarket after weak guidance. Musk cites memory bottlenecks, while TSMC faces DRAM shortages affecting Apple processor packaging.

Woofun AI reports that US memory chip equities faced sharp premarket declines, with SanDisk falling 10% and Western Digital dropping 15% after SanDisk issued next fiscal quarter revenue guidance of $10.3 billion to $10.8 billion, which missed market expectations. SK Hynix declined nearly 7%, and Micron Technology fell over 4%. SanDisk announced long-term NBM agreements with eight customers in data centers and edge computing, totaling $91.1 billion in remaining performance obligations, expecting these to exceed 50% of total shipments in fiscal year 2027.

TSMC is reportedly increasing 2nm production for Apple's A20 Pro processor but holds $1 billion in unfinished units due to DRAM shortages. Musk identified memory as a critical AI bottleneck, noting demand growth of 200% against 20% supply expansion.

Meanwhile, Alphabet launched a $25 billion bond issuance, and Fed Chair Waller indicated readiness to raise rates if inflation data remains hot.