Last night, storage chip concept stocks plummeted!

Storage Chip Concept Stocks Plummet

On Tuesday, February 10 (local time), the three major U.S. stock indices closed mixed, with the Dow Jones Industrial Average rising, reaching new all-time highs both at the close and intraday.

U.S. storage chip concept stocks became one of the market focuses. On that day, many storage chip stocks fell sharply, with SanDisk dropping over 7%.

U.S. Major Stock Indices Mixed

On Tuesday, February 10 (local time), the three major U.S. stock indices closed mixed, with the Dow Jones Industrial Average up 0.1% at 50,188.14 points, reaching new all-time highs both at the close and intraday; the S&P 500 fell 0.33% to 6,941.81 points, with a sharp decline late in the session; the Nasdaq fell 0.59% to 23,102.47 points.

In terms of sectors, most large tech stocks declined, with Google down over 1%, Meta down nearly 1%, and Amazon, Nvidia, Apple, and Microsoft all slightly down; Tesla rose nearly 2%.

Most bank stocks declined, with Wells Fargo down nearly 3%, Morgan Stanley down over 2%, JPMorgan Chase, Citigroup, and Bank of America down over 1%; Goldman Sachs rose less than 1%.

Most energy stocks declined, with ConocoPhillips down over 1%, Occidental Petroleum down nearly 1%, and Chevron and Schlumberger slightly down; ExxonMobil rose less than 1%.

Chip stocks performed variably, with the Philadelphia Semiconductor Index down 0.68%. Leading chip stocks included NXP Semiconductors and Microchip Technology, both up over 3%, TSMC and ARM up over 1%; among the biggest decliners, Intel fell over 6%, and GlobalFoundries fell over 3%.

Most Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index up 0.87%. Notable stocks included Hesai Technology and Zai Lab, both up over 6%, and Suntech Power, Tencent Music, up nearly 4%, and BOSS Zhipin up about 3%; Kingsoft Cloud and Vipshop fell over 2%, and Huazhu Group, KE Holdings, and Tiger Securities declined over 1%.

U.S. Storage Chip Concept Stocks Plunge

U.S. storage chip concept stocks mostly declined, with SanDisk down over 7%, Seagate Technology down over 6%, and Micron Technology down nearly 3%.

Storage chip concept stocks have been among the strongest-performing tech stocks in the U.S. market over the past year. Data shows that by 2025, these stocks’ prices will have doubled, with some stocks increasing several times over.

On the news front, media reports previously indicated that Samsung Electronics may begin delivering its high-bandwidth storage chip HBM4 to Nvidia later this month, marking the first large-scale mass production and shipment of HBM4 globally. Industry sources revealed that Samsung Electronics has decided to start supplying HBM4 products to Nvidia after the upcoming Lunar New Year holiday (February 17, the first day of the lunar calendar).

Proofreader: Panda