Home / Business and Economy / Seagate, SanDisk Fall While Micron Holds Steady
Seagate, SanDisk Fall While Micron Holds Steady
13 Sep
Summary
- Seagate shares dropped 4% without any company news.
- SanDisk stock declined 3% following a strong monthly advance.
- Micron's AI server exposure shields it from storage sector dips.
Seagate Technology Holdings saw its stock fall 4% to $827.88 on Friday afternoon, retracing some of its substantial gains for the year. This movement occurred without any official company announcements, guidance changes, or analyst rating shifts, suggesting it is a result of investors locking in profits after a significant advance. Seagate shares had previously tripled in value during 2024.
Similarly, SanDisk experienced a 3% drop, with its stock trading at $1,635.85. This pullback followed a sharp, unbroken climb of 29% over the preceding month. Like Seagate, there was no fresh company release or research note to explain SanDisk's decline, reinforcing the idea that these are isolated instances of profit-taking.
In contrast, Micron Technology's stock remained relatively stable, showing a modest 0.2% increase to $979.17. The Roundhill Memory ETF and the broader S&P 500 ETF Trust both gained 1% during the same session. Micron's resilience is attributed to its significant exposure to AI servers, which has insulated it from the sell-off affecting other memory and storage companies.
