๐ WDC drops -7%, $SNDK -6%, $MU -5% as WSJ report spooks memory stocks at midday
A WSJ report rattled memory and storage names Tuesday, with Western Digital (WDC) falling ~7% to ~$500, SanDisk (SNDK) off ~6% to ~$1,681, and Micron (MU) sliding ~5% to ~$963. The catalyst isn't deteriorating fundamentals โ analysts blame surging 30-year Treasury yields hitting 19-year highs, which hammers the discount rate on stocks priced for years of future earnings. Wild context: MU is still up ~255% YTD, SNDK +653%. Not financial advice. Is this a dip-buying opportunity or the start of a bigger rotation out of semis?
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