Memory chip stocks are in the red after Kioxia's dismal report in Japan
Memory chip stocks are deep in the red today, after Japanese peer Kioxia's earnings and revenue were dismally short of estimates. Micron Technology Inc (NASDAQ:MU) and SanDisk Corp (NASDAQ:SNDK) are two sector staples feeling the pain from the report.
MU is down 3.4% to trade at $236.67. The shares hit a record high of $257.07 on Nov. 10, and even today's pullback won't test their 10-day moving average. Year to date, the stock is 171.3% higher.
SNDK is on a similar path, down 15.6% to trade at $239.07. The shares are now 9.2% off their Nov. 12 all-time peak of $284.76. Up 132% in 2025, perhaps a 14-day Relative Strength Index (RSI) deep in overbought territory at 80 is a partial explainer for today's steep drawdown.
Beyond their nearly identical technical setups, options are an intriguing route for both names. With respective Schaeffer's Volatility Scorecards (SVS) placing MU at 89 and SNDK at 91. Both Micron and SanDisk have a history of exceeding option trader's volatility expectations during the past year.